New Listings – What’s New?
AvERAGE LIST PRICE
LIST PRICE Volume
The number of new listings hitting the market in first quarter of 2018 is up slightly when compared to last year, thanks to an usually busy January 2018, where nearly 40 new listings hit the market (vs. 21 in Jan 2017). However, the overall dollar volume of these new listings is down slightly in Q1 2018. As a result, the average listing price for the first quarter is down 15%, from $2.092 million to $1.78 million. The decrease was helped by the strong Jan 2017 (which saw an average listing price of $3.3m) and a somewhat weaker March 2018 (which saw an average listing price of $1.2m).
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Transactions/Sales Volume – What Sold?
Average Sales PRICE
Total Sales Volume
Sales transactions are up nearly 40% in Q1 2018 (vs. this time last year). February 2018 in particular was a very busy month, with 45 sales (vs. only 25 sales in Feb 2017). Sales Volume, however is down 8% in the first quarter of this year. Much of this decline can be attributed to the usually high sales volume of January 2017, where nearly $90 million in property sales occurred (compare that to Jan 2018 where we saw only half that volume).