Keswick - this week, we are seeing properties being on the market basically 10 days longer with the weekly sales quantities declining even more over previous weeks. There were only 4 sales in Keswick this past week, however, 2 of which were actually over asking (one is questionable, lol). The new listings that have come out this week is similar to last week's quantity and again, less than previous weeks. Re-listed properties (where the previous listing was terminated and then a new listing loaded for the same property, usually with a new price) are actually down in quantity and the number listings adjusted prices (downward) are considerably up in quantity. There are also several properties that have been taken off the market all together. The average days on the market for the current active listings, is up by a few extra days at this point. There are approximately 223 active listings giving us about 56 weeks of inventory...up by 18 weeks from last week's numbers...that is still a lot of inventory...however, it sure appears that there is a slight change in what has been happening...lesser new listings, lesser sales, dropped prices on some current listings.
In the Sutton/Jackson's Point area, we are seeing similar on-market timeframes week over week however the number of sales are up from last week. With the exception of the number of properties with adjusted, lowered pricing, the activity has held similar to last week. It also appears that prices are becoming more in line with the average sale price and the average list prices for active listings. We may be seeing a stabilizing of this local market. Also, with the number of weeks of inventory to sell (currently 25) being down by 14 weeks from what we were seeing last week, I would say that Buyer confidence in this area is building nicely.
In the Pefferlaw/Udora area, is showing much similarites to the Sutton/Jackson's Point area for its week over week results. Although sales activity here is much less, and therefore numbers become a bit obscure, the average price range of the sold properties his up by $70K-$80k over last week's price range. The number of new listings are down, tightening up inventory in the area, and price changes, downward, have increased...a great area for families to buy and feel like they are breaking the bank.
And how was your week?