b-LOG: June Market Summary
The first half of 2013 comes to a close and the market has been behaving itself somewhat along the lines of what we expected. Overall sales volume is levelling out when compared with last year in spite of the slow, weather-dampened beginning we had in 2013. You will see in this first graph that the number of new listings for June 2013 when compared to June 2012 is up by just over 10%. As we have written earlier this year, that is not a huge surprise as some of the earlier, often more active months of 2013 were slowed down thanks to the much colder and not-so-spring like weather we experienced. It is also interesting to note that the average asking price for new listings came down a touch from $252,000 (in June 2012) to $241,000 (in June 2013).
Moving from potential numbers (active listings) to real data (sold listings), you will see in this next graph that sales for June 2013 edged up slightly from a year ago by 4.1% to just over 200 sales for the month. Both asking price and sale priced moved up moderately as well however as we always preach, sales price is the most important value. For June, the average sale price moved up by 4.3% to $241,000 when compared to the previous year. You will also see in the next graph the Days On Market (DOM) edged down only slightly but maintaining the 40 +/- value that we tend to see in St.Catharines.
So, how is the year going so far? Well, looking at the last graph you will see in general, typical values for our fair city. Overall sales are down very slightly when compared to 2012. Both average asking price and average sales price are also up slightly, 2.6% and 3.2% respectively, again, maintaining that slow and steady pace that we seem to experience here. The average DOM value for the city edged down from last years year-to-date average as well, sitting at 43 so far which all in all, is a good sign for where we sit these days.
So, there you have it. Of course, within our city, you will find countless variables and mini-markets that will affect the value of a particular home or location. If you would like to get a handle on where your home fits into today’s market, please feel free to contact THEbTEAM by phone, email, text or bat signal.
We look forward to hearing from you!
Thank-you for visiting.
Patrick, Jim & Liana.