The real estate market was stable with moderate growth in the Quinte region through 2010. Total dollar sales were up 3.2% and average residential sale prices were up 4.7% compared to last year.
One unusual feature of the statistics for December 2010 was that prices remained relatively high even though there was a significant drop in the number of sales.
We did not see the dip in average residential sale prices that often occurs in winter months. In fact, the average residential sale price last month was very stable compared to October and November, and a remarkable 7.2% higher than is was in December 2009. In spite of the fact that prices remained fairly strong, there was a significant decrease in the volume of sales, however. There were only 112 residential sales in December 2010 compared to 145 in December 2009, and the dollar volume of sales was down 17.2%
A similar trend for December (prices high, but fewer sales) was noted in many parts of the country. Please see this Globe and Mail article published on January 14th.
To see a graph showing average residential sale prices for all of 2009 and 2010, please click the thumbnail image below.
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A longitudinal graph of average residential sale prices in our area is updated on my website monthly at
http://bobfoster.ca/real_estate_news.htm
If I can be of assistance in showing you properties in our area, or if you would like to discuss the possibility of marketing your home using my Internet Advantage Service, please feel free to contact me on my direct cell line at any time - 613 921 3933.
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