September 2017 Market update

As the leaves begin to turn and the days get colder, the Northumberland real estate market has begun its seasonal cool down.

This September was a slower month for real estate then what we’ve traditionally experienced. Overall volume of sales decreased by 17% over the same period last year, with a total 107 homes sold. The number of active listings was down by 6%, with 170 listings on the market at month end.

Northumberland continues to show characteristics of a balanced market, with 66% of homes that go to market end up selling.

The overall value of homes sold continues to increase; the average September sale price of $403,360 is down from previous month, but average values are still up by just under 5% year to date.

So what does this mean if you’re considering selling? Homes are still selling, and for good prices, but it takes more than a 'for sale' sign in the yard to get a 'sold' sign. It's more important than ever to have a Realtor that knows how to effectively market your property to stand out from the competition, and who can negotiate favorable terms when the offers do come.

For more information on the real estate market, and value of your home, call or text me anytime at 905-375-0062.