Saturday, March 16, 2013

How's the Local Real Estate Market Looking?

Spring may not be here yet but the Tundra Swans have made their appearance in Long Point and my calendar is full of appointments with both Buyers and Sellers. A sure sign of spring!

2013 has been off to a great start versus 2012.

Year to date there have been 145 sales (vs. 125 sales in 2012) of residential properties (including vacant land) reported on the MLS® of the Simcoe and District Real Estate Board.

Lisitngs have dipped slightly to 361 new listings year to date vs. 451 listings in 2012. On the local MLS® the average sale price year to date is up 19.18% from $222,108 this time last year to $264,706. And the list to sale price ratio is up from 83.73% to 93.10% meaning properties are selling for, on average 93.10% of their list price.

People always ask, what does the average sale price mean to me? The average sale price is an overall view of what is happening in the local market. However, many factors play into the average price and can skew the results one way or another. For example. If large farms or large lakefront homes are selling obviously the average sale price is going to appear on the high side. And Norfolk County has many different styles of homes that will affect the average sale price.

Overall, the local real estate market seems to be ON FIRE right now. If you're thinking of buying or selling real estate, now seems to be a good time.

For the buyer's out there, we'd love to help you with your purchase. Visit my website at and click on the "FREE Home Buyer's Guide Logo" and I will send you a complete guide to buying a home.

If you're thinking of selling, contact me today for your free market valuation and I will also send you our marketing package to show you what we can do to market your home for sale.

Good luck with your real estate ventures, whatever they may be!