A year ago the journey had begun where an increase of housing inventory was the story for the North Kildonan real estate market. Let’s compare North Kildonan real estate in 2015 to 2014 for the second quarter, by the numbers:
Homes sold in North Kildonan, Q2 2015: 93
Homes sold in North Kildonan, Q2 2014: 112
Sales to listing ratio, Q2 2015: 56%
Sales to listing ratio, Q2 2014: 133%
Average days to sell, Q2 2015: 23
Average days to sell, Q2 2014: 17
Average sales price, Q2 2015: $319,400.00
Average sales price, Q2 2014: $306,800.00
Expert Opinion: Current market trend shows six of every ten homes listed for sale in North Kildonan actually sell. Four of every ten homes listed for sale don’t sell. The next three months, looking ahead, are historically not as active as the best market of the year, spring. The good news for the second quarter real estate statistics is the home equity did rise over last year for the same time period. But, if the over-supply of homes listed for sale continues for the North Kildonan neighbourhood, it will eventually impact property values for the area.
I do expect the next quarter will stay the course for North Kildonan. If a homeowner wishes to sell the price pressure may begin to be more aggressive than it has been so far in 2015.
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Call Rolf Hitzer at Royal LePage Top Producers, 204-989-6900, for a complimentary real estate consultation when selling, or buying. Or, email firstname.lastname@example.org.