b-LOG: Existing Home Re-Sale Numbers
As usual, interesting to read major market real estate stats and reflect those with what we are experiencing here in little old Niagara. A few numbers to mull over:
St.Catharines residential sales
– 150 sales
– Average asking price $232,000
– Average sale price $223,000
– Average days on market 46
– Listings commenced in the month 244
– 142 sales
– Average asking price $208,000
– Average sale price $200,000
– Average days on market 54
– Listings commenced in the month 267
What does this information tell us? It reconfirms the numbers we have been posting periodically over the last several months. That in general, there has been a lack of supply in our area with a definite distinction made between homes that present well and are (especially) priced accurately versus homes that are not ready for market and/or priced out of range. This doesn’t mean that a home needs to be fully upgraded and HGTV ready in order to sell. Emphasis is on ‘ready for market’ meaning the home, with what it has, has been prepared for the buying public to view it.
So, in relation to some of the big market numbers, St.Catharines has seen an increase of sales for October, an increase in average price and a decrease in average days on the market. And, its important to note, this was done with less supply available. Pretty positive numbers. Again, as we’ve said before, one month does not a market make! To discuss your home and the ‘big picture’ market, call or email us and we would be glad to meet with you anytime.
Thank-you for visiting.