Transcript:
Hi.
I'm Team Tara Lyons with Royal Lepage, andI am here to give you your market update.
So I've got a couple of numbers I'm going to give you, because you do hear about what the average is and what's going on with the market and where we're at.
So I'm going to talk about Belleville and Thurlow today.
So currently July, we had, on average, $588,000.
Average price, sale price in August, we had $545,000.
So you're seeing a decrease in pricing.
It's pretty typical across the board right now.
Number of days on market in July was 26, and now we're 36.
We're going to see that same kind of trend happening in September.
Interestingly enough, we've got Thurlow, and in July, the average sale price was 690,000, and in August it was $751,000.
You're actually seeing an increase there.
But the key point here, and this is the importance of you talking to one of us, is it's a smaller number of sales it's working with.
So you could have one sale that was well into the millions that could skew that number up and not necessarily be realistic as to where your home is actually valued at.
So it's important, yes, averages are great to give you an idea of what's happening, but you really need to dig deep into the numbers to see what that actually means for you.
And that's what we do.
So what I can tell you is Thurlow had a fewer number of sales for the month, and they had some higher priced homes that did sell, and that's what brought that price up.
So I don't want you to be panicked about what's going on with the market.
We're coming into our fall market.
We're going to see a bit of activity, especially for those people that want to get into their homes for Christmas.
There's always influences on selling your home.
People are having babies and growing their families.
People are retiring and downsizing.
People are unfortunately divorcing, but they're also getting married.
So all these factors and changing jobs, especially with the military and all those factors help create our market, and that's what's happening.
We are probably around the activity of what we were in 2019, and 2019 was a pretty amazing year.
Pricing, we're probably about a year to a year and a half ago as to where we were.
So, yes, we're seeing a decrease.
But that only matters to you if you actually bought in February of this year.
That's when you would actually feel the pain of what was lost.
Otherwise, you've got huge gains if you purchased prior to that.
If you'd like some more detailed information, we've got the numbers on all the areas.
We'd be happy to take that through with you.
As well as talked you specifically about your home.
