Challenging real estate sales for 2018; more homes now available

December sales reflected a challenging month, ending a challenging year, for local real estate.

Quinte District Association of Realtors President Natasha Huizinga said December monthly sales for all property types comes in at $31,927,300, a 27.0 per cent decrease from 2017, which was $43,722,990.

“The year-to-date numbers also reflect a decrease of 13.3 per cent compared to 2017,” she said, noting December monthly sales for residential listings decreased 21.2 per cent with $28,020,650 for 2018 compared to $35,580,590 for 2017. The year-to-date numbers also reflect a decrease of 9.4 per cent compared to 2017.

December unit sales for both residential listings sold (down 24.6 per cent) and all property type listings sold (down 28.8 per cent) also showed decreases when compared to 2017.

However, for those looking for a new home, active residential listings, ended the year on a strong note.

“Following the positive trend that started in March 2018, with 595 active residential listings compared to 419 listings in 2017. This reflects a significant 42.0 per cent increase over 2017, indicating a market offering more residential listings available for purchase.”

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