A Good Start for MLS Sales in January 2015
New Listings coming to the market remain robust with a 25% increase over 2014. Not surprisingly, active listings or the inventory available for buyers to choose from is up 25% as well over 2014.
The healthy influx and overall supply of listings is keeping prices in check. Therefor it makes it more affordable for buyers wanting to capitalize on such favourable mortgage rates.
Single family homes have had a particularly strong month with a 11 increase over January however the upper end market was quieter than usual.
The Side by Side property types which were flagged in 2014 as one to watch given it offers more affordability than a single family home or condominium has a sales increase of 39% over January 2014.
The mose active residential-detached price range in January 2015 was the $200,000 to $249,999 one at 22% while the usual front runner price range of $250,000 to $299,999 fell back to second best at 20%.
The average days on market for residential-detached sales was 41 days, 2 days quicker thas January 2014.
For Condominium sales activity in January, the $150,000 to $199,999 was by far the more dominant at 37% of total with the next two higher price ranges each capturing 17% of sale.