Friday, April 1, 2011

March 2011

The number of sales is on an upward trend for the first quarter of 2011 with March coming in with 321 sales. January had 175 sales while February recorded 238 sales. The average price for a detached 2-storey home was $707,000 while detached bungalows averaged $621,000. A year ago those numbers were $698,000 and $550,000, respectively. The average time on the market was 25 days which is very good. Rental sales although they have dropped year over year to 62 from 76 are holding at that sales volume level through the first quarter. 25 homes sold above $1,000,000 with the highest at $2,575,000. Interest rates have edged up slightly with 5 year money attainable at 3.94% which is better than last year's 4.18%.