Average single family home sold prices are up 59% compared to last year! ($638,800 average 2019 selling price compared to $400,800 in 2018) But what does that mean, is my home really worth 59% more? It is unlikely, what it means is that generally higher priced homes have been selling and lower priced recreational condos have been taking longer to sell. It also means that there are not very many lower priced single family homes to sell... trust me there is a line of locals and want-to-be locals who would snap up a high quality home in good condition for under $350,000!
So far year to date there have been 336 units sold in 2019, compared to this time last year at 365 units. A big piece of this decrease is Canal Flats, this time last year there were 30 sales in Canal Flats, this year only 5! September 2019 has seen a nice increase from laster year with 52 units sold, compared to 36 last year.
Historically, 2018 saw a total of 437 units sold for the entire year, with an average selling price of $297,000. 2017 was a record 451 (exceeding 2008) with an avreage selling price of $321,000. 2016 saw 368 sales, with an average price of $306,000. Depending on the activity for the next few months in 2019, there is the potential to still come close to last year's number of 437.
The general conclussion, with the properties that have sold and with the number of expired listings this time of year- there is a lack of selection and lack of choices on the market. With a very slow number of new listings coming this time of year- if you are considering to sell, listing this fall could be a very good choice as your listing would stand out!
Please feel free to contact me if you have any questions about the market or would like more information!