January 2018 Quinte MLS Statistics
February 5, 2018 @ 3:31 PM by:
Posted in Yet another month that can only be described as a seller's market. Average residential sales price for January was $305,180, up an incredible 19.3% year over year, while the total number of active listings was down by 28.3% to 456 vs 636 in January of 2017.
Total residential units sold was only 119, a drop of 21.2% vs 2017.
With interest rates continuing to rise and with mortgage qualification standards tightening, the market seems to be in the last gasps of a bull market. If you are planning to list and don't have to purchase right away, now would be the best opportunity you will likely have to get top dollar for your home in 2018......
