Downward trend makes now a good time to list your property

The new year opened with a challenging month for real estate, continuing the downward trend in available listings and sales.

“The positive factor within these numbers is the average sale price, up 19.3 per cent for residential units and also up 17.7 per cent for all property types,” said Natasha Huizinga, President of the Quinte & District Association of Realtors.

The average residential sale price for January 2018 was $305,180 up from $255,890 a year ago. The average sale price for all property types was $307,203 also up from a year ago at $261,106.

The month of January 2018 continued the trend of the past few months, with the monthly dollar sales for all property types coming in at $42,393,950, down 7.7 per cent from 2017, which was $45,954,631.

Residential sales in units sold in January were down significantly in January, with 119 units sold compared to 151 units in 2017 – a 21.2 per cent decrease.

“Active residential listings started the year 28.3 per cent below 2017, with 456 current active listings compared to 636 listings a year ago,” said Huizinga. “The lower available residential listings again reflects a low inventory number, coming in at 3.83 months of inventory.”

However, she notes, with the low inventory available, this may be a good time to consider putting your property on the market.

Contact the following realtors in Prince Edward County: