November Real Estate Update!
The October numbers are in, and our three markets went in very different directions. Belleville just tied its busiest October in five years, with 72 homes sold. Over in Prince Edward County, homes took more than twice as long to sell as they did last year.
Belleville: A Busy October
Belleville sold 72 homes in October. That ties October 2021 for the busiest October we have seen in five years, and sales are up by a third from last year.
- Average Sale Price: $491,250 (up 9.2% from last October, down 5.5% from September)
- Sales: 72 (compared to 54 last October)
- Average Days on Market: 37 (9 days faster than last October)
The 9.2% jump in price needs a little context. Last October was Belleville’s lowest month in five years, so that jump starts from a low point. One more thing: Belleville is now about $45,000 cheaper than Quinte West, and it is still the busiest market of the three.
Prince Edward County: Buyers Are Taking Their Time
The big change in the County this month is how long homes are taking to sell.
- Average Sale Price: $697,442 (down 11.3% from last October, down 12.8% from September)
- Sales: 38 (compared to 53 last October)
- Average Days on Market: 90 (up from 41 last October and 66 in September)
Remember, the County is a small market, so a few big sales can swing the average price a lot from month to month. But longer selling times tell us that buyers in the County are taking their time.
Quinte West: A Steadier Month
Quinte West had a calmer October than the other two markets.
- Average Sale Price: $536,084 (down 7.5% from last October, up 2.4% from September)
- Sales: 51 (up from 42 in September and 48 last October)
- Average Days on Market: 49 (4 days faster than September, 8 days longer than last October)
Key Takeaway
For the year so far, sales are close to last year in all three markets.
- Belleville: 651 homes sold so far this year (649 by this point last year)
- Quinte West: 581 (595 last year)
- Prince Edward County: 354 (370 last year)
If you are a buyer, the County is giving you more time to look and decide right now. If you are a seller in Belleville, buyers are out there and they are moving.
Whether you are buying or selling, understanding your local market is key. If you would like to know what these trends mean for your home or your next move, reach out anytime.