For Sale -- Sign of the times
More homes listed, sales remain firm but prices slide 14%
You may have noticed a lot of For Sale signs on local homes recently. That’s no surprise, the number of new listings has jumped dramatically in recent weeks, even though prices are down.
In May there were 75 new listings in Trent Hills, compared to 56 in the same month last year, and there were 123 properties for sale at the end of the month, up from 119 last year, according to a report from the Central Lake Association of Realtors.
Home sales were strong in May compared to the previous year and the previous month. In May, 33 homes sold, 31 detached and two townhomes, for a median price of $589,900, down 14 per cent from a year ago when 21 homes sold for a median price of $686,900. In April of this year, 21 homes sold with a median price of $525,000.
The two townhomes sold this May for $654,950, compared to a median price of $575,000 for the detached homes, pushing the overall median up. Homes sold for 98 per cent of their list price, but the average number of days on the market was 45, compared to 39 a year ago.
“We’re seeing both sales and active listings trend upward across our region compared to last month, suggesting cautious optimism among buyers and sellers,” said Christine Riley., President of the Central Lake Association of Realtors. “The Bank of Canada’s recent decision to maintain its overnight lending rate at 2.75% provides some welcome stability, although uncertainty around trade continues to weigh on consumer confidence. Some buyers may still be waiting for greater clarity.”
In May, there were 158 sales in Northumberland County, up from 146 a year ago. The median sale price last month was $670,000 down from $703,500. There was a 19 per cent year-over-year increase in active listings from 579 to 692.
Setting sun highlights park
No real news to go with this picture, other than a reminder of what a lovely spot this park is and the fact that its future should be discussed.
If you don’t recognize the view, the photo was taken last evening from Booth Street in Campbellford, looking west towards where there used to be swings and a swimming pool. Well, where there used to be schools, if you have a long enough memory.
The municipality is undertaking a parks & recreation plan and this park should be a central feature in whatever is planned for the next 25 years.
You can read all Trent Hills News stories on my website here.