Sales for all property types in Quinte have increased this past December compared to last year, states a report released by Quinte & District Association of Realtors.
According to the association and its MLS System (a co-operative marketing system used only by Canada's real estate boards & associations to ensure maximum exposure of properties listed for sale and impeccable accuracy of information), sales increased 13.3 per cent — going from 135 units in 2010 to 153 units in 2011. The dollar volume of those sales increased by 18.5 per cent, from $28,281,108 for December 2010 to $33,501,136 for December 2011.
"Total dollar sales volume for the month of December was 18.5 per cent stronger than December 2010," stated Doug Peterson, president of Quinte & District Association of Realtors. "Sales volume figures for the year are tracking well with a 4.5 per cent increase over 2010. Over 75 percent of the area's sales were under $250,000. The area's average sale price has increased by 6.6 per cent since 2010. This does not necessarily mean that all individual properties have increased in value."
There were 2,222 total active listings on the MLS System in the Quinte area as of December 31, 2011, of which 1,442 were residential properties. Total active listings for the year end were up 3.1 percent over 2010. All current properties can be viewed at www.quinte-MLS.com .
"The Quinte region continues to benefit from a very stable and balanced real estate market," added Peterson.
"Our area has much to be proud of. Our local real estate market is only one indicator of a strong local economy. Home and other property sales, through the MLS system, are a significant contributor to any local economy. Industry studies show that each home sale contributes approximately $40,000 in additional spending on items other than the actual house and land."
According to the end-of-year 2011 report, well-priced properties are selling quickly and buyers are advised to maintain close contact with their realtor in order to catch the best buys.
"Sellers should be aware of this consistent demand," stated Peterson. "There are still active buyers in the market. If selling is a possibility call your Realtor soon. Consult with them about the current value of your home and act quickly to get your home on the market."
Source: http://www.intelligencer.ca/ArticleDisplay.aspx?e=3428989
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