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Real estate listings, home prices show modest increases

For the second consecutive month there is a slight increase in available residential real estate listings over the same period last year.

April showed a 2.2 per cent increase over March 2017 and now April shows an 11.7 per cent increase, compared to 2017, reports Natasha Huizinga, president of the Quinte & District Association of Realtors.

“Hopefully this is an indicator that the very tight local market has turned a corner and is starting to offer more residential listings,” she said. “Looking back over the past few years, the last time there was an increase in residential available listings was May 2015.”

Active residential listings are a modest 11.7 per cent above 2017, with 717 current active listings compared to 642 listings a year ago. The average sale price for residential listings has increased 3.9 per cent over the same time last year, coming in at $339,501 for 2018 and $326,788 for 2017.

Other statistics, she notes, continue to be a challenge, with the April 2018 monthly dollar sales for all property types coming in at $110,385,852, down a substantial 38.0 per cent from 2017, which was $178,078,337.

The monthly dollar figure for residential sales also shows a sharp 32.7 per cent decline, with the month-end number sitting at $106,263,919 for 2018 compared to $157,838,437 for 2017.

Residential sales in units sold in April were also down significantly in 2018, with 313 units sold compared to 483 units in 2017, reflecting a 35.2 per cent decrease.

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