It’s early in 2018 to predict how well the residential market will perform and this weather certainly isn’t helping. All indications are that we are in for a healthy residential market with the sale to list ratio remain high indicating we are still in a relatively strong sellers market.
Residential in Bracebridge, Gravenhurst and Huntsville
Sale to list ratio remains high at 72%, meaning only 28% of homes are not selling. This is slightly down YOY for Q1, but in February 2017 there was a flurry of sales in February as a new subdivision release a new phase of development that sold out almost immediately.
Home sales in Bracebridge
Number of units sold in Q1 are up 36.7% YOY, much to do with the increased inventory.
Inventory for Q1 in 2018 is up 45.7%.
Home sales in Gravenhurst
Number of units sold in Q1 are down 30% YOY, as well the inventory is down 9.3%.
Home sales in Huntsville
Number of units sold in Q1 are down 28.6% YOY, as well the inventory is down 28.9%.
I have no concerns at this point with the residential market. Once the weather improves we’ll see more inventory which will translate into more sales. We have many buyers waiting for the inventory to improve, along with the weather before making any final decisions.
Give us a call today for your free opinion of value on your Muskoka home!
Aben Team at Harvey Kalles Real Estate Ltd.
John Aben, broker 705-788-4770
Mark Aben, broker 705-788-4388