The third quarter Multiple Listing Trends for Newfoundland are in. After a tumultuous beginning to the year, it looks like we are beginning to see the "balanced" market all Realtors hope for; a well priced home selling within a reasonable time frame to qualified buyers. Nirvana!
Residential sales were at record highs with an increase in volume of 26% over last year at this time. More good news is in store for sellers as their property values have increased on average to 8.6% for a single residential dwelling over the same period last year - $140,779 to $152,939.
With a good supply of inventory and posted mortgage rates hovering between 6.5% and 7.5% (though slightly higher than last quarter) buyers can rest assured that investing in that first home will have a good return in years to come.
For more information visit Canada Mortgage & Housing's website at http://www.cmhc.ca/housingmarketinfo or visit me at http://www.MyNewfoundlandHome.com
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