Tuesday, January 3, 2012

December 2011

The upper end market is still dragging. During the last quarter of 2011 there were 16 sales above $1,500,000 with only 2 homes selling above the 2 million dollar mark. Looking at the last quarter of 2010 there were 12 homes sold above $1,900,000 and 19 sales.

The average price of a detached 2 storey home last month was $701,000. The month was fairly active with 138 sales up from Dec '2010's 124 sales. 100 of those 138 sales sold below $660,000 coupled with the soft high end market had an adverse impact on out average sale price.

There were 22 properties rented ranging in value from $1,275 to $5500/mth.

The average time to sell was 43 days.

5 year money is available at 3.39% with variable mortgage money running about 2.90%.