Quinte, On. real estate agent: Quinte Real Estate Numbers Quarter 1 - How Did We Do?

Quinte Real Estate Numbers Quarter 1 - How Did We Do?

I blogged about Quinte real estate statistics in March, and apparently the local real estate market has been on a lot of people's minds. I received quite a few emails from people who asked for clarification about the numbers. Some of them were from people who have their properties listed for sale, while others were from people who were merely curious. It's actually the first time one of my statistical posts received any kind of response, so I'm going to the well one more time (at least).

Are the residential sales numbers in Quinte down? Well, yes they are, a significant drop from last year indeed. If you remember last year, we had a gorgeous March and a very early spring. Maybe I'm grasping at straws, but the weather does play a significant part in the market (which is why we have a "spring market" in the first place). In a more historical context though, it's not that this last March was so incredibly bad, it's just that March 2012 was a very active month. The March 2013 sales were a little glum, but no cause for panic.

When we hold the entire first quarter's numbers up to previous years, you'll see that while 2013 lags far behind 2012, we are not that far off the numbers for previous years, so if anyone has the perception that the bottom is dropping out of the market (or some other similar phrases I've heard bandied about), it's really not justified. Sure, sales are slower than last year, but better than 2011 and 2009.

Real estate is a local business, so the picture painted by the entire Quinte real estate board figures do not apply to every area. Q1 residential sales numbers are actually up in Cramahe, Madoc, Trent Hills, Prince Edward County, Tweed, and Tyendinaga. The big drops are in the more urban areas of Quinte West and Belleville, both areas experiencing a significant drop in sales from last year, but those figures will be the subject of my next blog post, I have to keep readers coming back.

 

 

 

Comment balloon 6 commentsMalcolm Johnston • April 09 2013 10:33AM

Comments

Thoughtful post...and am glad you got a significant response.  

Posted by Li Read, Caring expertise...knowledge for you! (Sea to Sky Premier Properties (Salt Spring)) almost 5 years ago

Malcolm, the first quarter was also dreary in my market. Also active listings are at record levels here.

Posted by Larry Estabrooks, 100% representation = undivided client loyalty (Independent Real Estate Agent) almost 5 years ago

Thanks Li, it surprised me. Normally my blog posts about stats collect tumbleweeds, but apparently more people are starting to look for that in my neck of the woods.

Hi Larry, yes dreary is a great descriptor, it's tough slogging this year so far, hard to make deals stick together and a ton of inventory out there.

Posted by Malcolm Johnston, Trenton Real Estate (Century 21 Lanthorn Real Estate LTD., Trenton, Ontario) almost 5 years ago

Your area sounds similar to ours Malcolm. We just talked to a mortgage broker who says they are off 40% in mortgages written, that's a lot! You are also write about the weather!!

Posted by Al & Peggy Cunningham, Brokers, Our Family Wants To Help Your Family! (RE/MAX West Realty Inc., Brokerage) almost 5 years ago

Malcolm~ can you say "SUGGESTED" this blog is a perfect example of what to do, wow! This blog inspires me completely...GREAT BLOG!

Posted by Jon Kolsky, Licensed California Real Estate Broker (Kolsky Realty & Management) almost 5 years ago

Malcolm,

Good work. This is an insightful post. Thanks,

Brian

Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) over 4 years ago

Participate