January 2015 Market Watch

Welcome to the first 2015 addition of Market Watch; your local market update from Pennington’s Perspective. The market information provided is based on sales activity in Northumberland from statistics provided by the Northumberland Hills Association of Realtors.

January is typically a slower month for overall sales volumes, with buyers and sellers getting slowly back into the grove of things after a busy holiday season.

This year saw the overall residential inventory up slightly by 4.9% with 129 new listings compared to 123 last January. 53 residential units in total were sold in Northumberland this January, which is a 15.2 % increase from last year when 45 units were sold. 

Another important factor in the market is the overall value. Properties in Northumberland continue to gain in value with an increase in average value of 3% over the same period of time last year. The average value of residential properties sold in Northumberland is currently $259,545.

With sale transactions up by 15% and the average price of a property sold up by 3% it certainly is a strong start to the 2015 real estate market in Northumberland!

For more information on the Northumberland housing market or to find out the value of your property contact Jacqueline Pennington at pennington.remax@gmail.com or 905-375-0062

Information based on sales statistics from the Northumberland Hills Association of Realtors January 2014 and January 2015 sales data as interpreted by Jacqueline Pennington. The opinions expressed in this blog are solely those of Jacqueline Pennington and do not represent those of the Northumberland Hills Association of Realtors or RE/MAX Rouge River.  ©Jacqueline Pennington 2015