Weekly Market Update - March 5, 2018

Lisa Bancesco is a dedicated Realtor® who closely monitors the Grande Prairie and Area market to track changes and watch trends so that she can help her clients make informed decisions when buying or selling their home.  If you want to learn more about how local market statistics can affect your buying and selling decisions, call Lisa anytime on 780-882-3000 or email alisa.bancesco@century21.com for expert advice!

RESIDENTIAL MARKET ACTIVITY – Feb 26-Mar 4, 2018

Market Stats for last 7 days (previous week stats in brackets)

All Residential Listings in Grande Prairie & Surrounding Areas

NEW LISTINGS:

93

(78, 62, 84)

BACK ON MARKET:

9

(4, 7, 10)

LIST PRICE REDUCED:

29

(33, 32, 34)

SOLD:

44

(45, 43, 39)

EXPIRED/CANCELLED:

55

(24, 33, 30)

CONDITIONAL

48

(43, 35,30)

RATIO OF SALES TO NEW LISTINGS:

52%

(60%, 69%, 46%)

 

All Residential Listings Sold in Grande Prairie & Surrounding Areas

AVERAGE LIST PRICE:

$278,266

($296,751, $285,970, $293,925)

AVERAGE SELL PRICE:

$269,643

($288,289, $277,089, $279,358)

AVERAGE DAYS ON MARKET:

93

(106, 57, 102)

Single Family Dwellings (houses only) in City of Grande Prairie Only

NEW LISTINGS:

26

(25, 18, 23)

SOLD:

16

(14, 22, 12)

AVERAGE LIST PRICE:

$363,306

($374,827, $317,818, $320,917)

AVERAGE SELL PRICE:

$365,581

($368,207, $308,041, $312,400)

AVERAGE DAYS ON MARKET:

(88)

(47, 66, 76)

 

MISSION HEIGHTS STATS 2016 vs. 2017

Here are the 2017 stats (46 transactions)

 

HIGH

LOW

AVERAGE

TOTAL

LIST PRICE:

$535,000

$219,800

$306,813

$14,113,400

SOLD PRICE:

$517,500

$214,000

$298,987

$13,753,400

 

Here are the 2016 stats (43 transactions)

 

HIGH

LOW

AVERAGE

TOTAL

LIST PRICE:

$419,000

$219,900

$303,707

$13,059,400

SOLD PRICE:

$405,000

$205,000

$294,344

$12,656,800

 

2017 saw a slight increase in activity for the Mission Heights area compared to 2016.  Number of sales increased by 3 units, as well the average sale price increased by $4,643.  I expect we will see this trend in increased activity for the remainder of 2018. If you have been thinking about selling, 2018 may be the time.

 

ECONOMY SNAPSHOT

CAODC Weekly Rig Count

ALBERTA

DRILLING

DOWN

TOTAL

UTILIZATION

FEB 26/18

229

194

424

54%

FEB 19/18

225

199

424

53%

FEB 12/18

232

192

424

55%

FEB 5/18

217

205

422

51%

JAN 29/18

221

201

422

52%

JAN 22/18

225

198

423

53%

JAN 15/18

204

219

423

48%

JAN 8/18

199

224

423

47%

DEC 4/17

152

278

430

35%

NOV 27/17

148

283

431

34%

NOV 19/17

143

288

431

33%

NOV 13/17

152

279

431

35%

 

 

Grande Prairie Unemployment Rate

DECEMBER

NOVEMBER

OCTOBER

SEPTEMBER

AUGUST

JULY

6.0%

5.6%

5.8%

5.8%

6.0%

5.8%

 

Building Permits Issued 2017

MONTH

#PERMITS

CONSTRUCTION VALUE

DECEMBER

153

$1,783,784

NOVEMBER

233

$9,910,252

OCTOBER

324

$7,460,259

SEPTEMBER

288

$8,652,756

 

If you require any further specific real estate information pertaining to your personal needs, please contact me!  I would be happy to help!

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Sources:

Grande Prairie & Area Association of Realtors

City of Grande Prairie Economic Development

Canadian Association of Oilwell Drilling Contractors

 

 

Lisa Bancesco

Lisa Bancesco

CENTURY 21 Grande Prairie Realty Inc.
Contact Me