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Q1 2019 Northumberland Real Estate Update
2019 1st Quarter - Market Update
Nathan Copeland & Copeland and Co Real Estate Services
Sales Rep.RE/Max Rouge River 905-376-0092
Here we grow again!
While there seems to be signs of a slowing real estate market across Canada - the 1st quarter for our idyllic community was outstanding!
1st Quarter Statistics - The statistics below reflect residential real estate transactions in Northumberland County for 2018, compared with 2019 - including single family homes & condos (as generated from the statistics from the Northumberland Hill Association of Realtors.
| RESIDENTIAL SALES |
Q1 - 2018 |
Q1 - 2019 |
Change |
|
Total Sales Volume in Northumberland Co. |
$105.5 mil |
$136.3mil |
+29.2% |
|
Number of Sales/Transactions |
263 |
321 |
+22% |
|
Average Sales Price |
$404,200 |
$431,830 |
+6.8% |
| Avg Days on Market | 46 | 48 | -4% |
Below are a few of my personal observations from the above statistics:
- 2017 was by and far our best year in terms of total volume, and 2019 is so far shaping up to be our 2nd best year - at least so far.
- While many other markets are either flat or declining, our average price continues to increase year over year. Based on the average - if you bought your home in 2016 and wanted to sell it in 2019 - you've already made $126,000, a 42% return on your investment!
- I continue to believe that the average price increase is more of a correction to what our community has to offer - we have been slightlyunder priced for the past several years.
Moving Forward – Every day we are seeing more and more listings come on the market and it is reasonable to assume this trend will continue through the 2nd quarter of the year. Though it has been difficult for the younger, first time buyer to get into the market lately, the new lending incentives should help those buyers over the coming year.
Self Promotion! Copeland & Co just received the award for #1 Team for Re/Max Rouge River in Northumberland County!!
Featured Listings
Amazing Gingerbread Victorian in perfect condition: https://www.realtor.ca/real-estate/20450630/3-bedroom-single-family-house-60-bridge-street-s-hastings
As always, I trust you find the above information useful, and remember, I am never too busy for your referrals!
Sincerely.
Nathan Copeland of Copeland & Co Real Estate Services
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