What an incredibly beautiful fall we're having! I'm not sure I ever remember a fall quite this warm and sunny. One of my favourite thing about the fall is that it is a time of change, and while every season is a time of change, the changes we see in the fall are dramatic. There is nothing like driving by Cameron Lake when the leaves have all changed colour!
Just like the weather, the real estate market changes in the fall. It's a time when there are a few less transactions each month, but far fewer listings. For this reason I have long held the belief that the fall is the best time of year to sell a home. This year however, even the fall market is changing from years past. The number of sales is down dramatically, and the number of new listings coming on the market has increased. There is no doubt in my mind that the real estate market is changing, changing in a cycle that is measured in years, not seasons. We're heading into a more balanced market than we've seen in years. Supply and demand and balancing out. It's not up to me to decide if this is good or bad, but it is time.
Let's take a look at the real estate stats for September:
|September 2018||September 2017|
|Avg. List $||$278,286||263,316|
|Avg. Sale $||$266,775||255,044|
|Median Sale $||$280,000||245,000|
|Avg. Days on Market||60||38|
Thanks for reading - I'd love to answer any questions or receive any comments you may have.
Chris Fenton, BCom
The Fenton Team