Nathan, Lori & Nate  Copeland

Nathan, Lori & Nate Copeland

Sales Representative

RE/MAX Rouge River Realty Ltd., Brokerage

Mobile:
905-376-0092
Office:
905-372-2552
Email Me

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2014 1st Quarter Real Estate Statistics for Northumberland County


NORTHUMBERLAND REAL ESTATE
First Quarter 2014- Market Update
Nathan Copeland, Sales Rep. Coldwell Banker RMR
905-376-0092


As a recap, 2013 was Northumberland County's best year in many different categories.  Gross sales were $309mil which represented a $9.2mil increase over the best year prior; the average residential price increased to $269,088; the average non-residential sale (farm, commercial, vacant land, etc.) increased to $312,053; and the sales to listing ratio was 60.17%. All of this was accomplished with less listings than the year before, following a 4 year trend.


Having said that, and in spite of one of the toughest, longest winters in recent memory, the real estate market in Northumberland County 2014 has had reasonable start, with a few interesting twists..

First Quarter - YTD Statistics - The statistics in the table below consider all real estate transactions in Northumberland County  from January to March 2014 (YTD), including single family homes, condos, cottages, commercial, farms, etc.  (as reported by the Northumberland Hill Association of Realtors).




ALL  SALES


Total


2014 YTD


Total


2013 YTD


Change


Total Sales Volume in Northumberland Co.


$56.3mil


$56.3 mil


Nil


Number of  Sales/Transactions


198


211


-6.1%


Number  of Active Listings


752


780


-3.6%


Average Sales Price


$284,419


$266,999


+6.5%


Number of Sales to Listings, as a %


(success ratio)


38.82%


32.87%


+5.9%


 


The following table reflects only residential sales, offering up a slightly different picture than the overall totals.




RESIDENTIAL


Total


2014 YTD


Total


2013 YTD


Change


Total Sales Volume in Northumberland Co.


$44.8mil


$50.7 mil


-11.6%


Number of  Sales/Transactions


167


190


-12.1%


Number  of Active Listings


482


510


-5.5%


Average Sales Price


$268,569


$266,720


+1%


Number of Sales to Listings, as a %


(success ratio)


42.9%


46.9%


-4.0%


 


 


 

 Here are a few of my personal observations from the above statistics:


1.  For the past several years the spring market “Buyer has been searching for homes ahead of the spring market “Seller”, resulting in a much smaller selection of homes to choose from.  This year has been even more pronounced!  There are many buyers in the market who have become frustrated with the lack of available homes for sale.  This is especially true in the first time home buyer, looking for the more moderate priced homes (under $225,000).

2.  The Sales to Listings ratio is typically low during the winter months (first quarter) as the inventory dries up at the end of the year and slowly becomes replenished as the  New Year progresses.  Since we operate in a 60-90 day market, the new inventory of homes will show a dramatic increase in sales as it nears the 60-90 days on market. 


3.  As has been the case for 4 straight years - the average price and success ratio is  largely driven by a lower number of listings on the market. 


4.  While most areas in Northumberland County have remained steady in comparison to last year, Port Hope has shown a slight decline in total # of sales.


5.  Since it is only the first quarter the sample size is too small to draw any specific conclusions;  however, sales for commercial/farms/vacant land is up almost 50% over last year and this is the primary factor  the overall sales remain on par with sales from last year.


Moving Forward – If the past few weeks are a true indicator, I believe we will see a very brisk second quarter.  The number of new listings has increased dramatically just in the past 10 days, almost in line with the temperatures rising above zero!  It may be difficult for the growth trend to continue, but with interest rates remaining very low and our community continuing to garnish national attention with our quality of life & relative value of real estate, I believe we can be confident that 2014 will be another solid year.


Investors – Northumberland County remains a great place to invest in real estate.  Over the past several months I have been able to help several investors either grow their real estate portfolio in our area or help them cash out existing properties with a good return.  I would be happy to have a private, no obligation chat - feel free to call me on my cell: 905-376-0092.


My Business -  2013 was a banner year for my business, earning the International Diamond Society Award.  Also, effective April 1st I have taken on the additional responsibility  the managing the local office.  I have many clients to thank for my current success and I will continue to work hard to make your real estate experience smooth and professional.  Your referrals have been the core of my business – much appreciated!! 


Facebook:  Like my newly launched business page on Facebook:  https://www.facebook.com/nathancopelandrealestate 

As always, I trust you find the above information useful, and remember, I am never too busy for your referrals!.



 


 

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