A shortage of homes available for sale continued to be a factor in the Laurelwood real estate market. While it would seem that this is a result of the pandemic, I do not believe that to be the case as all of the surrounding neighbourhoods experienced an increase in sales volume. A total of 57 homes sold in Laurelwood last year, a drop of more than of 18% from the 70 that sold in 2019. Strong demand and a lack of inventory resulted in an average sale price of $818,000 an increase of nearly 13% from the average of
$726,000 the previous year. Intense competition for the homes that were available resulted in 75% of all homes selling at or above full list price and 65% selling after being on the market for 7 days or fewer. Home prices in Laurelwood have increased by 62% since 2015.
KEVIN JONES REALTOR®
KEVIN JONES REALTOR®
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