Bay of Quinte Market Update: February

The Market: The average List-to-Sale Price Ratio in February was 97.1%, meaning that homes sold for only 3% less of asking price, on AVERAGE. Compared to last February, the peak of the real estate market, when the List-to-Sale-Price Ratio was 121.4%, meaning homes were selling for more than 20% over their asking price.

Supply:

Bay of Quinte area market currently has 1.9 months supply of houses for buyers. Meaning that at the current sales pace it would take just 1.9 months for all housing inventory to be depleted, sold, if no new listings came onto the market This means it is still very much a Seller's market, contrary to popular rumours of us being in a buyers market currently!

The Stats:

Brighton

$605,771 | -25.9%

Properties Sold: 13

Average Days on the Market 48

Change in Value -22.9%

Quinte West

$550,310 | -23.3%

Properties Sold: 41

Average Days on the Market 41

Change in Value -22.5%

Belleville

$505,298 | -22.9% Properties Sold: 46

Average Days on the Market 30

Change in Value -23.7%

Stirling-Rawdon

$501,117 | -30.8%

Properties Sold: 5

Average Days on the Market 22

Change in Value -30.8%

*Stats are from February 2023. ITso Real Estate.