by Stuart Neal
on Saturday, April 3rd, 2021 at 10:30am.
In March, sales volume blew through the roof compared to last year. With strong buyer demand and lower inventory, we anticipate brisk activity during the second quarter of 2021.
In March 2021, average sales prices were just under $396,000 compared to just under $346,000 last year, or 14% UP. Prices have strengthened during the last 3 months and we anticipate that they will stay high.
Days on Market
Buyers have been snapping up homes very quickly. Average days on market in March was only 41 days, compared to 60 days in 2020 and 55 days in 2019.
Last year there were around 775 total sales registered in March and here we are at month end with 1448 units reported sold, equal to an 87% increase over last year’s sales volume.
At month end, total available inventory was 4848 homes for sale, equal to a reduction 7%, compared to the end of March 2020, when 5204 units were available for sale. In February, the deficit was 13% and there is a SURPLUS of condos.
If inventory stays scarce, the market will continue to perform strongly in 2021. However, if inventory starts to match normal numbers for our market, we will see stabilization occur.
Look for my April 2021 report during the first week of May. Thank you.
Want more information about our full service affordable FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014 or visit our home sellers page www.FlatFeeRealtyAdvisors.ca