House Prices in Clarington, Ontario, for January 2015 - Attached Row Townhouses
Real estate market data for Clarington, Ontario, for January, 2015 provided by Brian Wiseman LL.B., CIPS of Keller Williams Energy Real Estate Brokerage
Clarington House Prices – Attached Row Townhouses
(See explanation of 5 different house types)
Author’s Note:
In reviewing the market statistics for the month of January, it is relevant to note that, due to preparations for the holiday season, the holiday period itself (and the weather!), real estate activity is usually significantly lower than at other times of the year.
This should be kept in mind when considering the information in this Market Report.
Some points of Interest for January 2015:
ü The 
average price, for Attached Row Townhouses in Clarington in January 2015, increased from $252,943 in January 2014 to $291,900 in January 2015 – a huge increase of $38,957 = 15.40%
ü The lowest average price for a month during the year was $252,943 in January 2014; the highest average price was $291,900 in January 2015
ü The median price, for Attached Row Townhouses in Clarington in January 2015, increased from $242,000 in January 2014 to $304,500 in January 2015 – a massive increase of $62,500 = 25.83%
ü 13 Attached Row Townhouses were sold in Clarington in January 2015; this is 2 less than the 15 sold in January 2014
ü There were 18 new listings for the month; 4 more than January 2014
ü There were 7 active listings at the end of the month; 3 more than January 2014
ü Average sold price was 99.86% of listed price; in January 2014 it was 99.45%
ü Average days on market was 14.1; in January 2014 it was 12.7 days
Buyers’ Market, Sellers’ Market or Balanced Market?
FOR ATTACHED ROW TOWNHOUSES IN CLARINGTON IN JANUARY 2015:
· Ratio of Sales to New Listings:
Sales = 13; New Listings = 18
Ratio is 13/18 = 0.72 = 72%
As this is over 60%, it indicates a Sellers’ Market
· Absorption Rate – Ratio of Sales to Active Listings:
Sales = 13; Active Listings = 7
Ratio is 13/7 = 1.86 = 186%
As this is over 20%, it indicates a strong Seller’ Market
· Number of Months of Inventory:
Sales = 13; Active Listings = 7
7/13 = 0.54 months
As this is less than 4 months, it indicates a strong Seller’ Market
· Days on Market:
The average number of days that Attached Row Townhouses were on the market in January 2015 was 14.1 days
As this is less than 120 days, it indicates a strong Seller’ Market
· Ratio of Sold Price to Listed Price:
The average ratio of Sale Price to Listed Price was 99.86%
This is consistent with a strong Sellers’ Market
The above are clear indications that the existing Sellers’ Market, for Attached Row Townhouses in Clarington, was continuing strongly.
It is clear that, in January 2015, there was still strong competition among Buyers and only limited opportunity for Buyers to negotiate on price.
In commenting on real estate statistics for Toronto Real Estate Board (TREB), the Board’s President Paul Etherington said:
“The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs.”
Jason Mercer, Director of Market Analysis for TREB said:
" Home price growth is forecast to continue in 2015. Lower borrowing costs will largely mitigate price growth this year, which means affordability will remain in check. The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well.”
See 5 Essentials for a Buyer in a Sellers’ Market
Do you know that, as a potential buyer, in almost every case, you can have an agent working for you, without you having to pay for their service & advice?
This is because the buyer’s agent is usually paid by the seller’s agent.
It is advisable for buyers to use an agent who is totally independent from the seller’s (listing) agent.
This avoids any conflict of interest during negotiations for a purchase.
See 5 Reasons Why a Buyer SHOULD NOT Talk to a Listing Agent
Monthly Average Price and Number of Homes Sold
Clarington Attached Row Townhouses
January 2014 to January 2015
You will see that, over the 13 month period:
· the monthly average sold price for an Attached Row Townhouse in Clarington has ranged from a low of $252,943 (January 2014) to a high of $291,900 (January 2015)
· the monthly average sold price increased steadily throughout the period
· the number of Attached Row Townhouses sold in Clarington in one month has ranged from 9 (February & November 2014) to 25 in April, June & October 2014, finishing at 13 in January 2015
Average prices can be misleading, especially when the number of sales is relatively low.
High quality homes, selling for above average prices can skew the average sold price up for the particular month.
Similarly, lower quality homes, selling for below average prices can skew the average sold price down for a particular month.
When there is a significant increase, or decrease, in average sold price, it is worth comparing the average sold price with the median price for the same period.
The average sold price in January 2015 was $291,900 whereas the median price in that month was $304,500 – a difference of $12,600.
It is likely that this difference between the average sold price and the median price, in January 2015, was due to a significant number of lower priced sales in that month which skewed the average sold price down compared to the median price for the same period.
Average Ratio of Sold Price to Listed Price
Clarington Attached Row Townhouses
January 2014 to January 2015
The average ratio of sold price to price asked (listed price) is an indication of demand for houses related to the listed price.
If a home is listed for $280,000 and it sells for $277,200, the sold price to ask price ratio is 99%.
You will see, from the above graph, that over the period, the ratio of monthly average sold price to listed price for Attached Row Townhouses in Clarington ranged from a low of 99.45% (January 2014) to a high of 101.07% (March 2014), finishing at 99.86% in January 2015.
You will note that, because of the scale of the graph, the range appears to be much wider than this. In fact, in most months, the ratio was above, or just fractionally below, 100%.
This is a clear indication that there was still strong competition among Buyers during the month and only limited opportunity for Buyers to negotiate on price.
This information is helpful when you are intending to make an offer on a home as it gives a general guideline on the price you may have to end up paying compared to the listing price.
However, it is a guideline only as the figures can vary significantly for individual properties.
Homes that are well priced for the current market tend to sell quickly and close to, or above, asking price.
Average Days on Market
Clarington Attached Row Townhouses
January 2014 to January 2015
The average number of days that homes are on the market is an indication of:
· the period from when a home is listed for sale until it is Sold Firm (unconditional);
· the level of competition between potential buyers
You will notice, from the above graph that, in January 2014, the average days on market was 12.7 days. For all of the year it remained less than 13.5 days before finishing slightly higher at 14.1 days in January 2015.
This is clear indication that, throughout the year, there has been considerable competition among Buyers for Attached Row Townhouses in Clarington, continuing the indication of a strong Sellers’ Market.
Homes that are well priced for the current market tend to sell quickly and close to, or above, asking price.
Clarington Home Prices – Attached Row Townhouses
January 2015
Summary:
Although the sales of Attached Row Townhouses in Clarington in January 2015 were less than half the average number of sales for the summer months, there are clear indications that the strong Sellers’ Market conditions are continuing.
See 5 Essentials for a Buyer in a Sellers’ Market
Find Homes for Sale in Clarington, Ontario
YOU ARE INVITED to visit my website, at any time and as often as you like, to find pictures & details of homes for sale in Clarington
For photos and details of attached houses, including Attached Row Townhouses, currently for sale in Clarington:
You can also arrange to be notified when homes, that meet your criteria, come onto the market.
These services are available to you without obligation.
If you are thinking of selling, you can also:
ü Search on my website for homes, similar to yours, that would be competition for your home, if you list it for sale
ü Obtain an indication of the market value of your home
For answers to your questions, email me; or call 905-723-5944.
About the Author:
Brian Wiseman LL.B., CIPS, is a Sales Representative with Keller Williams Energy Real Estate Brokerage in Clarington & Clarington, Ontario, Canada.
In his past lives, Brian was a Partner in Legal Practices, specializing in Real Estate and Business Law in Australia and a Principal of a successful Financial Planning Practice in Australia.
After the sale of his business interests in Australia, Brian started a new adventure by relocating to Canada with his Canadian wife.
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