Real Estate Market Report
The Big Real Estate Picture
Just like a painter using a roller to paint a living room we can make some very broad statements about the general real estate market in Cobourg, Port Hope and the surrounding areas of Northumberland County. At the end of April 2016 the real estate market in Northumberland County was continuing on very much the same path as it has for most of 2016. We continue to see the trend of a shrinking supply and a marginally increasing demand. Very much the same story as last month.
When we compare the month of April with previous years (graph above) we can see that except for 2014 the inventory in Northumberland County has been sliding consistently. It should be noted that in 2014 we had a harsh winter which caused a slow start to the market. We didn`t see the usual early push in properties and homes coming on the market early in the year – BUT it did finish strong and at the end of the year we were on par with what would seem like a `typical`sales volume.
Year to date stats comparing 2016 to last year
Sales are UP 5% Inventory is DOWN 22%
Effective change in the market is 27% –
Conclusion = this is a sellers market.
The Smaller Real Estate Situation
Generally we are also continuing to see the same segmenting pattern we`ve been witnessing the last few years. Some homes and properties in Northumberland are enjoying tremendous demand while others not so much. I had started to try and create a presentation to show some of the contrasts in the real estate market. But the truth is there are simply too many and too much ground to cover in one blog post or video. It would be too confusing (I had a hard time keeping things straight). I was breaking down housing types / community / days on the market / list price and sale comparisons for similar homes etc …. and the reality is – I got lost in the numbers and realized I would never be able to communicate it all in a 5 minute video. The second reality is I don’t believe many people are too worried about knowing detailed real estate stats for the whole of Northumberland County and for every type of property or home or piece of land.
So If You Want Detailed Information
Just let us know 905-376-6355 We’ll be happy to prepare a detailed report about your home – your area and your part of the market.