Real estate inventories levels suggest we are in a sellers’ market - Rocca Sisters.

News 100 blueBy Staff

November 9th, 2019



The real estate picture and sales during the month of October from the research desk of the Rocca Sisters.

Inventory levels reduced since September and were considerably lower than the previous 5 year average, by about 20%. Year to date, Burlington sale prices were down just over 3% and sales were down 12% as compared to the same period last year.

The month of October saw very positive results with sale prices up almost 11% and sales up 3% when compared to the month of October 2017. Year to date, days on market are up by 49% when compared to 2017 but in the month of October it took a lot less time to sell a property with DOM at an all time low for the year of 30 days.

During the month of October, properties sold on average for 97.71% of the listed price. An interesting phenomenon that we saw in Burlington was properties that were listed and on the market for several weeks and then selling for full asking price or even slightly more. Of the 66 properties that sold for 99% or more of the asking price in October, 24 had been on the market for over 20 days.

Clearly we are in a much more balanced market where buyers are under no pressure to make quick decisions notwithstanding the fact that inventory levels suggest we are in a sellers’ market.

Rocco sisters OCt 2018

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