The Quinte & District Real Estate Board released the June 2007 statistics for the complete Quinte Real Estate area including Belleville, Ontario and the results highlight how strong the month was for sale prices. Overall we have had a very fast paced first half and it will be interesting to see if it continues through the remaining 6 months.

Belleville's stats (including Thurlow Ward) continued to climb with an average residential sale price of $202,329.50. This is residential sales including condos and waterfront. The average Belleville residential sale price for the first six months of 2007 was $191,707.32 on sales of 540 units. 

Another interesting figure for Belleville was that 134 new residential listings were added in June 2007 while 106 were sold. As of the end of June, there were 293 active residential listings which results in an absorption rate of less than 3 months indicating a very strong Seller's market. The absorption rate determines how long it would take to sell the current active listings given the previous months sales number. In this case 293 (active listings) divided by 106 (number of sales last month) = less than 3 months. Any rate below 3 months indicates a strong Seller's market.

It will be interesting to see how the rest of the year unfolds but if the previous 6 months is any indication we may have a record-breaking year when it is all done. Time will tell.

Proudly selling Quinte Real Estate.