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January Market Stats (WOOOOHOOOOOOO!)
Dated: February 19 2020
Hello everyone! Thanks for checking out this market update. I have four market updates in this post, one for Wetaskiwin, Wetaskiwin County, Leduc and Leduc County. There are quite a few factors that are involved in sold prices and days on market. Was the home priced well, to begin with, or is the seller play catch up with the market? Was it pulled off the market and relisted? What is/was the economic climate? This is just a broad sweep of the volume that sold, the average price and the average days on the market.
If you are interested in a specific community or area, let me know and I will gladly pull some data for you! (I love research).
City of Wetaskiwin for Single Family Homes:
We saw 6 homes sold, at an average price of $186K and on the market for 103 days on average. There are currently 126 Active homes for sale in Wetaskiwin.
3 Sold, at an average price of $198k, and on the market for 184 days.
January 2019 for Single Family Homes in Wetaskiwin:
8 sold, at an average price of $235k and 132 Days on Market.
What does all of this mean? Month to month there is an increase of 50% in homes sold, the average price has dropped and so has average days on the market. Compared to last year, there is a 25% reduction in home sales, 21% reduction in price and a 22% decrease in DOM.
Homes are being sold for less and at a faster rate.
4 homes sold, on average at $313k, 167 DOM and there are 100 Active listings.
5 Sold, on average at $389k and 90 DOM
2 sold, on average at $256K and 124 DOM
Again, we are seeing a downward trend from last month. A decrease in price and an increase in days on market. From last year, we have a 50% increase in sales, 19% increase in sold price and a 26% increase in days on market.
Here, homes are sitting longer as the prices decrease. Acreages, historically sit longer on the market as a result of niche demographics.
City of Leduc: Single Family homes
25 homes sold, at an average price of $319k and 76 days on the market
24 homes sold, at an average price of $255k and 74 days on market.
There was a decrease in sales this month, compared to last and an increase in sold price. The days on market remained close to the same. Where, last year, there were more homes sold at a lower price point, in a similar amount of time. There is very little stagnation in days on market, suggesting the homes are well priced.
There were 6 acreages sold, at an average sold price of $416k and 85 Days on Market for January 2020.
4 acreages sold in December, at an average sold price of $528k and 113 days on market.
5 acreages sold, at an average sold price of $520k and 75 days on market.
Lower sold price, more homes sold and less time on the market compared to last month. Last year, there was considerably less time on the market. Again, acreages are niche demographic, normally sitting a bit longer on the market and we tend to see more variance in price and days on market. It is 100% dependent on the buyers that are looking to buy,
There are some big stress test changes coming into effect in April and we are heading into the spring market! Keep your eyes on the blogs for more about the spring market in the weeks to come.
If you have any questions about the market in your area or the area you are home searching in, give me a shout or throw me a text @ 587 984 2871.
Hey there! I'm Angela Halwa. I work with people looking for a friendly, knowledgeable, no pressure and fun purchasing and selling experience. Buying and selling a home can be one of the most stressf....