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Home sales down slightly, may be due to weather

There is a continuing debate in the real estate world, questioning the impact weather has on the property market.

“If you are on the side that believes it does influence the market you will probably not be surprised to see the monthly sales and listings slightly down compared to last year,” said Cathy Polan, President Quinte & District Association of Realtors.

Residential unit sales for May 2019 show 388 sales, slightly down from 405 sales for 2018. The year-to-date comparison shows 2019 is currently 3.5 per cent below the 2018 sales.

“The cool, wet weather we’ve been experiencing is reflected in the current modestly hesitant market. It seems to show we’re all still waiting for warmer spring/summer weather. On a positive note, sales amounts for the month, along with the year-to-date sales do reflect varying increases.”

May’s sales for all property types in the Quinte area comes in at $150,895,886 reflecting a moderate increase of 3.4 per cent over 2018, she said, and the 2019 year-to-date figure shows a continued steady increase of 3.1 per cent over 2018.

May’s residential listings showed a healthy increase of 9.4 per cent compared to 2018. The year-to-date residential number shows a four per cent increase over last year.

The average residential sale price for May continues to trend up, showing a healthy increase of 14.2 per cent over 2018, with the current price of $372,488, a 7.7 per cent increase over 2018.

Speak with these realtors for more information:

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