As predicated, August was a strong month with sales up 7% over the previous month and 17% over August 2011. The number of sales year-to-date are up 10% over 2011.
Despite the positive year-to-date numbers, there are still over 1700 residential properties currently listed for sale in the Georgian Triangle with 985 sales to date: that is a residential inventory of about 21 months! On average, 36% of homes listed for sale in the area sell during their listing period meaning it is still very much a buyer’s market.
Details of August’s activity are on the charts below which you can enlarge them by clicking on them. This first one provides a summary of the total area which includes some communities on our boundaries.
The Georgian Triangle real estate market varies dramatically by area and so, each community should be looked at individually when making decision. If you look at the six key areas on the charts below, you’ll note that residential sales climbed in each area while the average sale prices moderated. This is an indication of more moderately priced homes changing hands rather than in the upper tiers of the marketplace.
If the same seasonal patterns continue in 2012 that we have seen in the past few years, the market should continue to stay strong at least into October barring any dramatic shifts in interest rates or other economic surprises.
It’s always a pleasure to meet new people and to assist them in meeting to their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to contact me anytime at 705-446-1762 or send an email to me at firstname.lastname@example.org.