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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Q3 Real Estate Update for Northumberland County


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


The real estate news for our great community continues to get better as we continue the pace to have our best year ever – eclipsing last year which was previous our best year ever! 


Check out the stats below:


Third Quarter - YTD Statistics - The statistics in the table below consider all real estate transactions in Northumberland County  for the YTD through the third quarter - January to September June 2014 (YTD),  compared with January – September 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


Jan-Sept


2014


Jan-Sept


2015


Change


Total Sales Volume in Northumberland Co.


$244.4mil


$324.9mil


+24.8%


Number of  Sales/Transactions


962


1075


+10.5%


Number  of Active Listings


1950


1755


-22%


Average Sales Price


282,893


302,238


+6.4


Number of Sales to Listings, as a %


(success ratio)


49.33


61.25


+12%


 


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.


$236.0mil


$284.8mil


+17%


Number of  Sales/Transactions


859


957


+10.2%


Number  of Active Listings


1532


1317


-16.3%


Average Sales Price


$274,772


$297,594


+7.7%


Number of Sales to Listings, as a %


(success ratio)


56.07%


72.67%


+16.6%


 


 


 


 


 


 


 


 


 


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


1.  As has been the case all year, residential sales are driving the market!  Commercial, farms and vacant land have started to climb in comparison to last year, showing a 10% increase.


2.  Active listings continue to be the challenge.  The demand is out pacing the inventory, which has resulted in a higher average price and much better success ratio.


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.  Part of the challenge is that people who want to sell are waiting to list their home until they find something they want to buy, creating a continuous cycle of low inventory.


5.  On an adjusted percentage basis, luxury properties tend to do better in the fall market, which leads me to believe that there is an excellent chance our average residential sales price for the year may eclipse $300,000  for the first time.


Moving Forward – As the risk of being redundant to my last report, 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!


 


Featured Listing:  Check out the oldest remaining home along the lakeshore form Oshawa to Belleville, c1799:  http://www.realtor.ca/Residential/Single-Family/15729020/168-KING-Street-PORT-HOPE-Ontario-L1A2R9 


 


 


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

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