Here at Movementum Realty we are always looking ahead, but with 2017 coming to a close, we are taking a glance at how the year went, and how it did over 2016. This will help us know better as to what should be expected in 2018, and how best to help our clients. This is how 2017 stacked up to 2016 for Pembroke.
As you can see from this report some items are up, and some are down. A decrease does not always show something as being bad; like the decrease of days on the market from 2016 to 2017 is a very good thing. That means homes are being sold faster, it is a good indicator that the housing market is on the rise, and people are actively looking for homes to purchase. There were more homes put on the market this year, and the average listing price on those homes increased, and the days on the market decreased. More homes on the market, a decrease in the number of days being listed, and an increase in listing price, it is turning into a sellers market. Buyers have been snatching up homes quickly this year and are willing to pay more on average than last year.
This chart shows actual numbers of homes on the market. With 14 more houses on the market this year over last year, and sales were up by 13 units on 2017 as opposed to 2016. This shows that almost all of those 14 units over last year were sold, and an over all 6.25% increase in sales. Which is a great positive trend to bring into 2018.
The average list price per square foot being about the same, however the average sqft price when sold increased to over 4% from 2016 to 2017. Price change from listing to sold in 2017 was only a $0.29 decrease, where in 2016 it was a $7.17 on average decrease from the original listing price.
In 2016 homes were on the market an average of 73 days, in 2017 home on average were on the market almost 20 less. Two weeks can make a huge difference when buying or selling a home.
In this chart its not hard to see that the average pricing values have only increased over last year. Average list price is up $27,588.32 which is a 6.62% increase. The average sale price has increased in 2017 by nearly 4% and over $15k from 2016.
All the trends in 2017 on average are up from 2016. Units being listed up over 4.5%, units being sold up over 6%, average original list prices are up almost 20%. With positive trends increasing, 2018 is looking to be another great year for real estate. Both buyers and sellers are doing well, with more houses coming on the market, not staying on the market as long, and the difference from the list price to the sale price is under $4k; homes are selling quickly and close to their listing prices.
At Movementum Realty we are always keeping and eye on the trends, to better help our clients when it come to selling or purchasing a home. We are looking forward to another positive year ahead, and are ready to help you with all of your real estate needs, and welcome your questions and concerns. Give us a call, send us a message, or stop by the office to say hello!