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Slight decreases show strong local housing market may be shifting

Quinte and district real estate is showing slight indications the strong local market may be starting to shift.

Cathy Polan, president of the Quinte and District Association of Realtors, says July’s dollar sales for all property types sits are 3.1 per cent below 2016, coming in at $96,770,388.

Residential dollar sales also show a slight decrease at 2.4 per cent below 2016 with $84,656,588 in July sales.

The average residential sale price for July 2017 at $304,520 it still up from $268,551 a year ago, reflecting a continued healthy increase of 13.4 per cent.

Residential sales in July have decreased from previous months, at 278 units sold, down 13.9 per cent from 323 sold in July 2016.

Polan says year-to-date residential sales still reflect positive numbers with a 13.9 per cent increase over last year. Available listings continued to be lower than in the past, with 32.4 per cent fewer residential listings than 2016 and 24 per cent fewer for all property types.

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