by Stuart Neal
on Thursday, November 5th, 2020 at 12:30pm.
In October 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.
So far this October, average sales prices have been around $382,000 compared to $365,000 last year and around $376,000 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 so far in October is only 51 days, compared to 65 days last year and 58 days in 2018.
Last year there were around total 916 sales registered in October and here we are at month end with 1030 units reported sold, equal to around 112% of last year’s sales volume for October 2019.
At month end, total available inventory was 9% down, when compared to the end of October 2019 at 5296 units for sale.
I believe that we are on track to match last year’s volume or perhaps exceed it.
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