Year End Market Report 2018

What a year it has been. 

We've been preaching the same numbers all year long- but here is your recap of what's been happening in the residential real estate market - from the Quinte Real Estate Year End Market Report. 

The total Dollar Sales have shown an overall decrease of 9.4% compared to 2017, coming in at $930,801,243. For both the month of December, and the total year to date (2018) the Residential Average Sale Price  continues in a positive trend, as it has over the past few years. Year over year, the average sale price is up 12.0% compared to 2017. In December 2018, the average sale price was 4.4% higher than in December 2017, coming in at $335,182 .

The Total Residential Listings in the Quinte area for the year of 2018 was 4,591. This is an increase of .4% from 2017. The number of units sold in 2018 is down 19.1%, when compared to 2017. What does this mean? Well there are still lot's of buyers out that, and we are STILL seeing multiple offer scenarios & properties selling for over list price.... BUT, buyers are still smart and they aren't going to purchase a house for more than it is worth. The numbers are also influenced by the dominating $250,000 to 299,000 & $350,000- 399,000 price range. There are a lot of buyers continuing to purchase these properties as quickly as they hit the market, increasing the average prices & the number of sales.

Average By Area: 

Average Sale Price:  $284,571 
Average days on market: 39

Average sale price: $294,988
Average days on market: 43

Average sale price: $376,900
Average days on market: 56

Average sale price: $303,667
Average days on market: 34

Average sale price: $251,500
Average days on market:  15



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