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

Hire A Top Class Real Estate Agent Who Will Invest In Your Future

Q2 2015 Market Update


NORTHUMBERLAND REAL ESTATE
Second Quarter 2015- Market Update
Nathan Copeland, Sales Rep. Coldwell Banker RMR
905-376-0092


As may recall from my First Quarter Update, the year started off with a bang, with an increase in sales of 20%!  Well, the news continues to get better and better.  The Second Quarter and Year To Date statistics are through the roof – have a look.


Second Quarter - YTD Statistics - The statistics in the table below consider all real estate transactions in Northumberland County  for the first quarter - January to June 2014 (YTD),  compared with January – June 2015 including single family homes, condos, cottages, commercial, farms, etc.  (as reported by the Northumberland Hill Association of Realtors).


 



ALL  SALES
Residential/Vacant Land/Commercial


First Quarter
Jan-Jun


2014


First Quarter
Jan-Jun


2015


Change


Total Sales Volume in Northumberland Co.


$164.6mil


$207mil


+26%


Number of  Sales/Transactions


575


695


21%


Number  of Active Listings


943


782


-21%


Average Sales Price


$286,240


297,936


+4.3%


Number of Sales to Listings, as a %


(success ratio)


42.09%


57.58%`


+37%


 


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



RESIDENTIAL


Total


2014 YTD


Total


2015 YTD


Change


Total Sales Volume in Northumberland Co.


$140mil


$182.7mil


+30%


Number of  Sales/Transactions


502


624


+24.3%


Number  of Active Listings


647


473


-26%


Average Sales Price


$278,815


$297,936


+6.8%


Number of Sales to Listings, as a %


(success ratio)


46.35%`


69.49%


+50%


 


 


 


 


 


 


 


 


 


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


1.  Residential sales are driving the market!  Commercial, farms and vacant land remain stagnant to last year, but as the above table shows, residential sales are up in every category – by a substantial amount!


2.  The number of active of listings is a bit misleading insomuch as the success rate is taking them off the market quicker than normal.


3.  Buyers remain frustrated with the lack of available homes on the market, but still aren’t willing to pay more, or at least not a lot more than current market value.


4.  We are experiencing a serious trickle down from the GTA and Durham markets.  Multiple offers are driving up the cost in these areas well above true market value and for everyone who wins the “bidding war”, several buyers lose.  This is causing a lot of frustration and consequently many buyers are deciding to venture further east to Northumberland County.


5.  Though the statistics bear out a high success ratio when listing with a local realtor, many out of town realtors are starting to bring their buyers to our area.  This is assisting in driving up the prices because these realtors see the value in our market.  I personally believe that the value of our homes is growing faster than a lot of our local realtors realize – it is a different market today than it was even last year.


Moving Forward – Inventory is still low, buyers are very active in the market, demand for our area remains strong, and interest rates remain at record low levels.  This all should add up to another banner year in real estate for Northumberland County!


 


My Business -   My business is certainly mirroring the market!  I am delighted to be helping so many Buyers and Sellers.


 


Featured Listing:  Stunning views accentuate this spectacular country home:  http://www.realtor.ca/Residential/Single-Family/15746938/3539-CORNISH-HOLLOW-RD-HAMILTON-TOWNSHIP-Ontario-K9A4J9


 


YouTube:  Check out this drone video, very cool indeed:  https://www.youtube.com/watch?v=w1snFpxYzSw&feature=youtu.be


 


 


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

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