May 2016 Month End Uxbridge Real Estate Market Update

June 6, 2016

Developing Trends

“Sales, Sales And More Sales” 

May brought the largest number of Uxbridge homes sales in a single month since we began recording them back in January of 2009, and the largest number of sales year to date since 2010. Pent up demand for Uxbridge homes may start to ease as the largest number of “new”** listings came on the market this past month since May of last year.

In recent months some homes in Uxbridge have been selling for thousands over the asking price, One recent sale was more than $100,000 over the ….. cont. @ http://actvra.in/4S85

Supply And Demand

Right now the supply /demand factor is the root cause of homes selling over the asking price here in Uxbridge.

Supply
When we have 100 plus listing available for buyers to view there is a better selection of homes in most price ranges so there are fewer buyers competing for the same home. However in today’s market with a limited number of homes (only 71 total at month end) in some of the more popular price ranges buyers are out biding each other pushing the selling price up over the original list. Even when a home is priced based on recent sales it can still sell over the asking price.

Demand
Uxbridge has a pretty consistent demand for homes with (on average) just under 30 homes per month actually selling.


Uxbridge Market Update

Median Sold Price This Month  $740,000
Average Sale Price This Month $751,308
Median Sold Price Last Month  $690,000
Average Sale Price Last Month $751,051

This past month there were 72 new listings and 49 residential sales reported by the Toronto Real Estate Board for Uxbridge. The 49 sales represents a 32.43% increase from the 37 sales last month

See the full reporhere

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UxbridgeMarketUpdate

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Local Uxbridge And Area Month End Real Estate Market Snapshot

stats1stats2*see notes .. Figures represent the MLS Statistical Summary .. data source Toronto Real Estate Board


Statistics Are What They Are

The Real Estate Market Is Local and sometimes hyper-Local While Statistics Charts and Graphs may provide an indication of market trends they should not be used to determine value trends in relation to a particular home or vicinity.

The best way to determine the Value of Your Home is a Comparative Market Analysis. To discuss today’s local Uxbridge Real Estate Market Conditions, the current value of your home or the marketing of your Home please Contact Me @ 905.852.6143

caveat – E&OE – these numbers reflect the raw data as reported by the Toronto Real Estate Board for the past month at the time of posting.

** “New” listings entered into the Toronto MLS® system between the first and last day of the month being reported and may include listings that may have been previously listed that were cancelled or expired and then relisted.

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