Gary Moran's Kingston Realty Team May 2008 Newsletter
Hi everyone,
Our newsletter is a little late this month - it has been a very busy month for our team, so I apologize for not getting to it sooner.
The number of transactions remains below last year's numbers but only by 12.2% compared to last month when we were off by 16.7% compared to last year, which tells me that we are gaining some ground. Compared to the average number of transactions for the past three years we are only down about 8.3% compared to last month's figure of 13.4%. Just for info, our team numbers are right on last year's numbers for year-to-date and we are all very happy with that and would like to thank you, our loyal clients for that fact. Some may have read local articles about how bad our market is - well the market is down some in number of transactions, but the numbers are not as bad as some of the articles have suggested!
STATISTICS |
Entire Board Area (West Napanee/Bath to East Gananoque) |
| | Jan to Apr | Jan to Apr | Jan to Apr | Jan to Apr | Active Listings | Active Listings |
| | 2005 | 2006 | 2007 | 2008 | 30-Apr-08 | 30-Apr-07 |
| | | | | | | |
2-Storey | # Units Sold | 368 | 340 | 427 | 376 | 701 | 539 |
| Average Price | $219,283 | $255,713 | $245,497 | $257,859 | | |
| | | | | | | |
Bungalow | # Units Sold | 530 | 435 | 478 | 437 | 812 | 697 |
| Average Price | $199,251 | $201,730 | $212,544 | $231,637 | | |
| | | | | | | |
Other | # Units Sold | 198 | 203 | 214 | 152 | 318 | 286 |
Residential | Average Price | $177,000 | $186,680 | $196,272 | $214,120 | | |
| | | | | | | |
Total | # Units Sold | 1096 | 978 | 1119 | 965 | 1831 | 1522 |
Days On Market | 52 | 53 | 55 | 60 | | |
| | | | | | | |
Condo | # Units Sold | 102 | 110 | 102 | 107 | 103 | 54 |
| Average Price | $132,774 | $166,570 | $162,878 | $169,325 | | |
Days On Market | 43 | 47 | 49 | 52 | | |
Prices are pretty much doing what I expected with price increases this year to date against last year's average price up 1.7% for two-storey homes, 3.7% for bungalows, 3% for condos and according to the board figures for this month other residential is up 9.2% over last year's average. That last figure for other residential is a huge jump from last month, which showed a negative figure. I'm a little suspicious of the numbers on that one.
As far as inventory goes, we have lots, currently up 22.7% over last year at this time. Days on the market are also up this year.
Overall still in my opinion a balanced market and sellers need to be aggressive with their listing price if they want to sell. For buyers it's a great time to buy, lots of choice and still good interest rates.
If anyone has any questions about our unique VIP Buyer Profile Service please give me a call at my home office 613-389-4052, for those at a distance call me toll free direct at 1-866-393-5762. This hassle free service could save you thousands!
If anyone would like to receive our special Video entitled "What you need to know before selling your home" simply call 613-389-4052 and ask for the free video to be sent to you. It could make you thousands!
Have a Great Day!
Regards,
Gary Moran, M.Sc.
KingstonRealtyTeam
sutton group-masters realty inc., Brokerage
Independently Owned and Operated
