It was an unusually slow month for home sales in Beechwood Forest and Highland West. Just two homes sold in October bringing the total for the year to 79. The average sale price continues to rise, so far this year the average has been $579,000. Strong demand has resulted in homes selling, on average, for more than list price (103.6%).
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Beechwood Forest + Highland West |
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Monthly Market Update |
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October |
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2019 |
2018 |
2017 |
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Homes Sold |
2 |
9 |
5 |
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Average List Price |
$550,000 |
$543,000 |
$520,000 |
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Average Selling Price |
$570,000 |
$541,000 |
$507,000 |
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% of List |
103.6% |
99.6% |
97.5% |
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Days on Market |
21 |
14 |
22 |
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Year to Date (Jan 1- Oct 31) |
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2019 |
2018 |
2017 |
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Homes Sold |
79 |
56 |
72 |
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Average List Price |
$573,000 |
$543,000 |
$531,000 |
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Average Selling Price |
$579,000 |
$551,000 |
$563,000 |
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% of List |
101.0% |
101.5% |
106.0% |
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Days on Market |
19 |
15 |
13 |
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There is some thought that the Federal election had an impact on home sales in October but, I think it has more to do with a lack of inventory. At the moment there are just two homes listed for sale in the area. We have been averaging 8 sales per month this year. This puts the neighbourhood firmly in a “Sellers’ Market” position.