Quinte Real Estate Numbers Quarter 1 - How Did We Do?

By
Real Estate Agent with Century 21 Lanthorn Real Estate LTD., Trenton, Ontario

I blogged about Quinte real estate statistics in March, and apparently the local real estate market has been on a lot of people's minds. I received quite a few emails from people who asked for clarification about the numbers. Some of them were from people who have their properties listed for sale, while others were from people who were merely curious. It's actually the first time one of my statistical posts received any kind of response, so I'm going to the well one more time (at least).

Are the residential sales numbers in Quinte down? Well, yes they are, a significant drop from last year indeed. If you remember last year, we had a gorgeous March and a very early spring. Maybe I'm grasping at straws, but the weather does play a significant part in the market (which is why we have a "spring market" in the first place). In a more historical context though, it's not that this last March was so incredibly bad, it's just that March 2012 was a very active month. The March 2013 sales were a little glum, but no cause for panic.

When we hold the entire first quarter's numbers up to previous years, you'll see that while 2013 lags far behind 2012, we are not that far off the numbers for previous years, so if anyone has the perception that the bottom is dropping out of the market (or some other similar phrases I've heard bandied about), it's really not justified. Sure, sales are slower than last year, but better than 2011 and 2009.

Real estate is a local business, so the picture painted by the entire Quinte real estate board figures do not apply to every area. Q1 residential sales numbers are actually up in Cramahe, Madoc, Trent Hills, Prince Edward County, Tweed, and Tyendinaga. The big drops are in the more urban areas of Quinte West and Belleville, both areas experiencing a significant drop in sales from last year, but those figures will be the subject of my next blog post, I have to keep readers coming back.

 

 

 

Comments (6)

Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Thoughtful post...and am glad you got a significant response.  

Apr 09, 2013 03:46 AM
Larry Estabrooks
Independent Real Estate Agent - Moncton, NB
100% representation means NEVER DUAL AGENCY !

Malcolm, the first quarter was also dreary in my market. Also active listings are at record levels here.

Apr 09, 2013 05:23 AM
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Thanks Li, it surprised me. Normally my blog posts about stats collect tumbleweeds, but apparently more people are starting to look for that in my neck of the woods.

Hi Larry, yes dreary is a great descriptor, it's tough slogging this year so far, hard to make deals stick together and a ton of inventory out there.

Apr 09, 2013 07:11 AM
Al & Peggy Cunningham, Brokers
RE/MAX West Realty Inc., Brokerage - Brampton, ON
Our Family Wants To Help Your Family!

Your area sounds similar to ours Malcolm. We just talked to a mortgage broker who says they are off 40% in mortgages written, that's a lot! You are also write about the weather!!

Apr 10, 2013 06:55 AM
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Malcolm~ can you say "SUGGESTED" this blog is a perfect example of what to do, wow! This blog inspires me completely...GREAT BLOG!

Apr 10, 2013 08:38 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Malcolm,

Good work. This is an insightful post. Thanks,

Brian

May 26, 2013 01:18 AM