In the latest edition of our b-LOG, we take a quick look at the numbers in an attempt to offer some clarity. First, it is important to realize that the ‘spring’ market has been moveable the last several years due to unpredictable weather (in more recent years) and economic uncertainty (back 6 years ago). So, to look at a week or few weeks year over year is not a great indicator. Monthly, quarterly or year-to-date is really the best place to look.

In basic bullet point, here are the facts. And note: this is according to MLS data (ie: listings sold with the assistance of us REALTORS). As well, the numbers relate to residential sales.

St.Catharines

Total Sales Average Sales Price
May 2013 210 $233,000
May 2014 221 $240,000 (+3%)
2013 YTD 785 $221,000
2014 YTD 796 $241,000 (+9%)

** Year over year, we typically see percentage increases in the 3 to 6% range with increases very rarely touching double digits in St.Catharines. It will be interesting to see how the average price trends continue into the summer…looking at past performance, it wouldn’t be surprising to see the increase settle back into the 4 to 5% range.

St.Catharines – between Scott & Lakeshore

Total Sales Average Sales Price
May 2013 44 $235,000
May 2014 34 $219,000 (-6.8%)
2013 YTD 144 $225,000
2014 YTD 152 $233,000 (+3.6%)

** Again, notice the difference in year-over-year versus month-to-month in real estate stats. The year-to-date average increase is very typical for the city and in particular, this area of the city. With a mix of fully upgraded/renovated homes as well as completely original, there can be a significant range in sale price.

St.Catharines – Port Dalhousie & Martindale Pond

Total Sales Average Sales Price
May 2013 9 $457,000
May 2014 4 $761,000
2013 YTD 25 $382,000
2014 YTD 28 $403,000 (+5.5%)

** Average sale price for May in this area of the city is skewed due to (a) lack of sales with 4 in total and (b) all of them being at a significant price point with the high end sale at over 1 million. Another caution with this area of the city is the wide variety of housing with a mix of new or newer as well as 100 year old + character homes.

St.Catharines – Grapeview

Total Sales Average Sales Price
May 2013 8 $335,000
May 2014 10 $306,000
2013 YTD 36 $303,000
2014 YTD 35 $343,000 (+13.2%)

** How is that for a switcheroo? Or is it a switcherama. Either way, notice the average price for the month versus year-to-date. 2014 shows year-to-date trending up significantly while the month of May has performed poorly. Interesting to note that the average price in Jan –Apr for 2014 was $358,000 while May 2014 was a much lower $306,000. Why? Well, 10 sales can include semi-detached or 1 bedroom condos that are not really comparable to a large $500k 2 storey in the same area. Stats…they’re funny like that.

St.Catharines – Old Glenridge

Total Sales Average Sales Price
May 2013 2 $215,000
May 2014 2 $335,000
2013 YTD 10 $336,000
2014 YTD 14 $347,000 (+3.3%)

** May versus May is tough to take too much from given that there were a grand total of 2 sales per. Year-to-date is still interesting as at least there is a bit more to grasp onto with 14 and 10 sales to consider.

So, we could go on but we won’t. To narrow down the facts and figures on a particular home, this process gets a bit more technical and hopefully informative. For example, if you have a bungalow in the 1,300 sq.ft. range with a single garage, an apples-to-apples comparison is really only going to work when looking at other similar homes. So, pulling out stats and looking at a specific home is a different process that we do quite often when getting valuations done on a home for a seller or a purchaser.

If you would like a closer look at where your property fits into today’s market, please feel comfortable in contacting us. We are glad to help and work free of pressure!

Thank-you for visiting,

THEbTEAM

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