Where we were; Where we are; and Where we're going

This is the Where We Were part of this three piece post where I will attempt to take a look at how we faired in our local Sudbury Real Estate market in 2009 (comparing it over the previous year's figures).
To start out let's take a look at some figures that were provided by the Sudbury Real Estate Board thanks to the MLS/Filogix System (click on image to see larger.)



What do these numbers tell us?

First we see that year over year comparing 2008 to 2009 the total number of sales has dropped close to 20%; while in that same time the total number of listings dropped roughly 12%. When we compare the total number of sales relative to the number of listings for the same time period we see a rather constant figure that hovers just over the 50% mark which all in all isn't terrible. This is considering 2008 was a crazy year for real estate in the Greater City of Sudbury where in the early months we saw a shortage of listings with multiple offers on almost every listing to a rapid change that brought about a buyers market with a huge over-surplus in the number of listings available.

Another key fact to note is that our sales in the month of Dec for 2009 are much stronger compared to the average sale for 2009; in almost all area's in The Greater City of Sudbury. This seems to indicate that prices for the average homes are on the rise.
We see a climb in terms of the average value sale specifically in the locations of; New Sudbury, South End and Valley East. These three locations specifically have a large enough pool of data to be able to draw this basic conclusion (New Sudbury having 19 sales in the month, South End registering 14 and Valley East coming in at 31 sales for December.) It is tough to gauge how accurate some of the other locations are to determine if there were an increase or a decrease because of the few sales available in the month of December that we are looking at. (For example the one sale in Broader South End may have been a fixer-upper property compared to a lot of $500,000+ houses that are for sale on the waterfront.)

As with any statistics people can interpret these a number of ways; some seeing the glass half full and others seeing it half empty. Overall these numbers seem to be a positive for Sudbury as we enter the New Year and a New Decade.

Please feel free to comment with any input that you may have based on some of the statistics of our market; I look forward to hearing what you all have to say.

Thanks for reading,

David Kurt
Sales Representative
Coldwell Banker Charles Marsh Real Estate