Invermere & Area Real Estate Stats 2019, year to date (date at September 30)

Invermere & Area Real Estate Stats 2019, year to date (date at September 30)


Gerry Taft REALTOR® Royal LePage Rockies West Realty in Invermere British Columbia so let’s look at some real
estate statistics for 2019 and compare those back to 2018 we have the numbers
now up until the end of September so the interesting thing so far this year the
volume of units sold is down so this time last year we had 363 units sold so
far this year we’re looking at 336 so two things to explain that one Canal
flats now flats last year had 30 units sold this year it only has 5 units sold
so those 50 those extra 25 units makes a big difference in our total volume of
sales the other piece is the timing so far this year we’ve had a couple months
that’s had a lot of a lot less units sold specifically we had February June
and July which were down quite a bit on number of units sold but the interesting
thing this year September of 2019 we saw 52 units sold the same time last year in
September 36 units sold so a big increase in September so there is still
the potential for the rest of this year to make up the volume of units sold and
we may end up at a similar point as last year which again was 437 units for the
entire year in comparison 2017 we actually had 451 units sold and in 2016
we had 368 and the years before that the volume of units sold was significantly
lower so let’s talk about pricing so on a statistical basis if you do the
averaging it looks like prices are way up so so far this year year-to-date the
average sale price of everything homes condos land everything averaged out four
hundred and twenty four thousand dollars per unit which is a 32% increase and
when you look at single-family homes on their own
the average sale price this year 638 thousand eight hundred last year four
hundred thousand eight hundred that’s a drastic fifty nine percent increase in
the sale price of single-family homes but does that mean that your home went
up fifty nine percent or that everything went up thirty two percent it doesn’t
what it means is that higher priced homes have been selling and so it’s
skewing the averages and what we’re seeing is a lot of young retirees people
buying really nice houses that don’t need any renovations and how double car
garages and our turnkey and these folks are selling the principal residences and
other markets whether it’s Vancouver the Okanagan Alberta Saskatchewan and
they’re coming here to live year round and they’re buying homes that are five
hundred six hundred seven hundred thousand dollars so it is skewing our
averages and what’s also really interesting is the lower priced
recreational condos those units under two hundred thousand dollars are very
slow to sell right now so they’re taking time to sell them so what does this all
mean what what is uh how does this relate to
anything well right now we’re actually seeing that the number of units listed
for sale is is quite low there’s been of course a lot of sales that have happened
we’re having listings that expire this time of year and in general there’s not
a lot of selection for buyers to look at and very few new listings coming on
street on a day to day basis so if you’re thinking about selling this is
actually a really good time to consider listing your property because it will
stand out in the market there are so few new listings and there are buyers
looking and the buyers are sometimes getting frustrated that there is not
enough selection so if you’re thinking about listing feel free to give me a
call and I would be happy to talk more about the market and about statistics
and about real estate in general thank you very much

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