Sales Slowing Down In 2018
Average Prices Still Rising
In general, from March to July 2017 we witnessed above average month over month value increases during the low inventory quick moving market at that time. Therefore the year over year average is expected to slightly decline each month right now until July or August.
We should then see a more moderate year over year increase figure which will be more inline and consistent with our 12 year average.
This is very positive as the majority of other markets in Canada are currently experiencing negative numbers in their 2017 vs 2018 comparison. In short our local market value’s are holding on average with 2017 prices plus a moderate healthy increase.
(By August 2018 we should still see an approximate 4-5% increase over August 2017).
Other notable comments:
- The amount of sales in 2018 are unfortunately down -41.1% at this time.
- Inventory is starting to increase which will balance the market for the first time since late 2016 (balanced markets are good).
- There is currently 3.3 months of inventory in Wasaga Beach as we entered May 2018.
- Average days on market for the homes sold within the month of April was only 36 Days On Market.