Kleefeld Real Estate Numbers Oct 2020

Hello Kleefeld Stephen Olyniuk here and the MLS numbers in for the month of October.  Let’s have a look at what they look like.  Basically October there were 2 sales and only 1 listing right now.  So we are at 0.5 months of inventory available, point 5 of a month.  Strong sellers’ market.  Average selling price was 275 000 dollars and days on the market is 27.

 

Last year there were 2 sales in the month of October, so we have flagged 0%, no change on that.  Average selling price was $338,000  There were a couple more expensive houses sold last year.  Down a little bit to $275,000 this year.  We'll see at the end of the year it will be up over for the average over the year.  

 

Month by month when there is only 2 sales, it's really tough to do an average selling price and give you an accurate indication of what the market looks like.  I talked about "Months of Inventory".  What is the Months of Inventory?  It's a metric to determine the speed of liquidity of any real estate market.  It's a tool to help you determine what the market is like and it impacts on how a home should be priced.

 

Basically you would take the active listings which is 1 right now divided by the sales of 2 and that gives you 0.5 months of inventory.  1 to 4 months is a sellers’ market, so you got less than a month, you got a strong strong sellers’ market.  5 to 6 is a balanced market, plus 7 is a buyers’ market.

 

If you have any questions at all don’t ever hesitate to reach out with us and we hope everyone is doing great out there.  Look forward to seeing you around the neighbourhood.