The arrival of March traditionally brings lots of new real estate activity to markets all across the country. This is the time of year when families are most likely to purchase a new property, so they can ensure an easier relocation during the summer. As a result, almost every community will see an influx of buyers looking for new homes.
To give you an update of what is happening in the market, the average house sale price year-to-date is $189,996, up 5.4 per cent compared to last year’s $180,252.
In January and February, 220 houses changed hands which translated to a total of $37.9 million. The total sales for the first two months showed a drop of 20 per cent compared to 275 houses that were sold during the same period last year.
In February alone, house sales plummeted 26 per cent from the same month in 2017. There were 122 houses sold last month versus 164 units sold in February last year.
If you are wondering about taking advantage of this market or you happen to know someone who is, give me a call. I can help navigate this year’s spring market and ensure any purchase and/or sale goes smoothly.