Market Watch January 2013

Market Watch January 2013

RESIDENTIAL

During the twelve month period ending December 31, 2012 there were 4,933 residential sales in the market place this compares to 4,786 residential sales for the same period in 2011, an increase of 3%.

As of December 31, 2012 there were 9,061 residential listings received this compares to 9,364 in the same period for 2011, this is a decrease of 3% in residential listings received.

The sales to listings ratio (listings sold expressed as a percent of listings received) for the period was 54% in 2011 it was 51%.

The inventory of the active residential listings as of December 31, 2012 was 2,192, this compares to 2,450 in 2011. This is a decrease of 11% in active residential listings.

The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is a further measure of the balance between housing supply and demand. It currently stands at 5.3 months. In December 2011 it was 6.1 months.

The average residential selling price was $175,515 for the 12 month period ending December 31, 2012. This is an increase of 3% from 2011.

The average listing during the period took 74 days to sell (76 in 2011) and sold for 95% of the list price.

In the Market Watch for December 2012, we broke down changes in average residential sale price by area, while the  overall average sale price increase is 3% in Windsor and Essex County, several areas performed better in 2012.

 

CONDO

During the twelve month period ending December 31, 2012 there were 442 condominium sales in the market place.  This compares to 425 condo sales in the same period of 2011, an increase of 4%.

As of December 31, 2012 there were 809 condo listings received.  This compares to 878 for the same period of 2011, a decrease of 8%.

The sales to list ratio (Listings sold expressed as a percent of Listings received) for the December 31, 2012 period was 55%.  In 2011 it was 48%.

The inventory of active condo listings as of December 31, 2012 was 206 units.  This compares to 227 units in 2011 and is a decrease of 9%.

The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is a further measure of the balance between housing supply and demand. It currently stands at 5.6 months.  In 2011 it was 6.4 months.

The average condo selling price was $126,745 for the 12 month period an increase of 4% from 2011.

The average listing during the period took 83 days to sell.  Compared to 101 in 2011 and sold for 96% of the list price.

Average Sales Price 2005 - 2012

Residential Sales LSiting Ratio 2005-2012