by Stuart Neal
on Thursday, December 3rd, 2020 at 3:42pm.
In November sales prices punched through the roof when compared to the last 2 years. High sales values, combined with reduced inventory, means potential home sellers should consider entering the market now and anticipate an excellent outcome.
In November, average sales prices have been around $378,000 compared to $360,000 last year and around $382,000 in 2018. Prices have strengthened since March and we anticipate that they will remain higher for the balance of the year. Based on these numbers home prices are 5% UP on this time last year.
Days on Market
Home buyers have been snapping up homes very quickly. Average days on market in November was only 55 days, compared to 70 days last year and 64 days in 2018.
Last year there were around total sales 788 registered in November and here we are at month end with 876 units reported sold, equal to around plus 111% of last year’s sales volume.
At month end, total available inventory was 4708 homes for sale, equal to a reduction 11%, when compared to the end of November 2019 when 5312 units were available for sale.
Sales volume has recovered strongly since the Covid 19 Pandemic hit us back in April.
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.