Sudbury Real Estate Market Update: March 28 - April 3, 2020
David Kurt
What made you decide to get into real estate? I was one year into working a “real job”; the type you study hard and go to University for when I re...
What made you decide to get into real estate? I was one year into working a “real job”; the type you study hard and go to University for when I re...
We are almost 3 weeks into the COVID shutdown across the province, and things certainly look like they are going to get slower before they pick back up again. Doug Ford just announced the revised list of businesses that are deemed essential, and although Real Estate is still on the list; as we've made point before, it definitely isn't business as usual.
There were a lot fewer business that made the revised list of 'essential' businesses notably that affect the housing industry locally was the Residential New Construction; any builder that hasn't started building as of yet is not put on hold.
We've given this advice to sellers for a few weeks now, but if you can afford to put your house search/sale on hold; DO IT. We should all be staying at home as best as we can to do our part to flatten the curve. If you can't we are able to operate in a revised capacity focused first and foremost on online and virtual meetings.
That being said this is the fist drop in activity we saw in the last 3 weeks, prices are still strong but activity has dropped (to be expected); take a look at the # of multiple offers though, over 50%. of sales! That number shocked me the most.
31
New Listings
304
Active Listings
7
Under Contract
17
Closed Sales
Homes Sold
96.7%
Sale-to-List Price
$300,390
Average Sales Price
5
Months of Supply
55
Average Days on Market
$253
Average Price per Square Foot