The number of sales for residential real estate has decreased in January 2015. Residential listings under contract decreased a staggering 70%
The total sales volume from January 1 to January 31, 2015 on residential properties (condos & houses) is down by a 26 percent to $7,516,000 US Dollars. The average sales price is down by 10 percent to $327,000 US Dollars. The total number of sales is down by a 18 percent to 23 units.
The condo market has suffered the most.The total sales volume is down by 60 percent to $2,424,000 US Dollars and the average sales price is down by 20 percent to $269,000 US Dollars.
Sales for single-family homes are surprisingly up by 25 percent to $5,092,000 US Dollars. The average sales price is down by 10 percent to $364,000 US Dollars.
There have only been two new listings on the market and that is a decrease of 94% compared to the same period last year.
The percentage of list to sold price for condos haven't changed at 89% and for single family homes it decreased slightly from 89% – 88%.
If you would like to receive an update on a specific neighbourhood please let me know and I'm more then glad to provide you with the numbers.