You could look at the stat sheet and think…Well that isnt too encouraging average sale prices seem to have dropped in 2018.  Well this picture as with most doesn’t tell the whole story. In 2018 we sold more properties in the lower price point, and here is the breakdown 

2017 YTD(Jan-Oct31) There were 33 properties SOLD: for a total of $4,464,000.00. 7 of these were below the 100k threshold for a total of $588,000.00
*26 at an average of $172k
*  7 at an average of $  84k

2018 YTD(Jan-Oct31) There were 30 properties SOLD: for a total of $3,594,000.00. 10 of these were below the 100k for a total of $363,000.00
*19 at an average of $189k
*11 at an average of $  33k

When we talk about the majority of properties sold being single family houses.  We actually have seen an increase in price from $172k in 2017 to 189k in 2018, which is an increase of 9%

If you would like to discuss this information or if you have any other real estate related questions, I’d be happy to talk to you. Contact me at 250 203 6512 OR dawn.dakin@century21.ca