Northumberland Real Estate Market Update – March 2016

It looks like we are finally seeing signs of spring in Northumberland, and activity in the local real estate market is no exception. We continue to experience record-setting prices month after month this year.

During March, 226 homes were sold which is on par with March of last year. The average sale price for March was $323,700which is up 14% over the same period the previous year. This is great news if you are looking to sell, but not so great if you are looking to buy.

In many cases, buyers have to compete for a property, which has a lot to do with the lack of overall inventory available. The good news is that inventory increased by 43% from February to March and sales were up by 32% month over month. With inventory starting to increase it should make it a little easier on the buyers trying to find their dream home!

If you are considering selling your home this is one of the strongest sellers' markets I have seen, so there is no better time to list!

To find out the value of your home contact Jacqueline Pennington at pennington.remax@gmail.com or 905-375-0062

Information based on sales statistics from the Northumberland Hills Association of Realtors March 2015 and March 2016 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.

Copyright © 2016 Jacqueline Pennington. All rights reserved.