Real Estate Start for 2018: Welcome to our roller coaster of a market. Number of sales in our area has been at 5 year low of 92 units sold in January 2018. If you look at the charts you will see that was the trend throughout 2017 as well. Also take note of the jagged lines of data of 2017 on the graphs. Jagged lines mean extreams happened with our data numbers. This is why 2017 was a crazy sales year.
Sales numbers are not the only number that is extremely low for January 2018. Listing inventory is down as well. The big difference from 2017 we are not seeing the crazy sale numbers. Peterborough inventory below $400,000 seem to be getting multiple offers still but higher then that price point and country listings are either getting single offers or no offers at all.
Since the higher price listings and country listings are not getting much attention in January 2018, despite of the low listing numbers, Expireds are up to 51.
So it seems inventory levels will remain low the start of 2018 but this does not mean we will be seeing the crazy prices that were fetched in the early part of 2017. Keep your eye out what’s going on in the real estate market. It should get interesting.
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Written for you by:
Your local Realtor®
Brad Sinclair, Sales Representative
Flat Rate Realty
The HOUSESOLD name for buying and selling real estate in Peterborough and local waterfront!
Thanks for reading Bill!