Pickering Real Estate Market Report For March 2014

Number of Listings and Sales

Partially due to the weather, at the end of February, we saw an decrease in the number of new listings coming onto the market compared to February 2013. The number of new listings decreased 10.21% year over year. The actual number of sales decreased 2.05% year over year.

Pickering New Listings Ending Feb 14Pickering Sales Ending Feb 14

Months Of Inventory (MOI)

The months of inventory indicator is used to determine supply and demand in the real estate industry. The MOI is calculated using the number of new listings divided by the sales. In other words, it no other homes came on the market, how long would it take to exhaust the current inventory.  The chart below indicated that the MOI ending February 2014 was just 1.78 months – down from 1.95 months at the same time last year. When we see the MOI this low, it is indicative of a seller’s market and we often see higher sales prices as more buyers compete for quality listings.

Pickering MOI Ending Feb 14

Home Prices Have Increased

Due to a limited inventory, the average home price at the end of February was up 9.16% year over year. We also continue to see quality properties selling quickly with the average days on market before a home sells being just 24 days.

Pickering Avg Price Ending Feb 14Pickering Avg DOM Ending Feb 14

Looking To See What The Market Is Doing In Your Area?

To get an accurate picture of what the real estate market is doing in your neighbourhood, I invite you to contact me today for more information.

 SearchHomesDurhamRegionRequestAHomeEvaluation

Posted By: Shawn Lepp– Durham Region Real Estate Sales Representative
The Shawn Lepp Team is a mega-producing team at Keller Williams Energy Real Estate
specializing in Durham Region Real Estate
905-428-8100 

Related Articles:

  1. Oshawa Real Estate Market Report for March 2014
  2. Durham Region Real Estate Market Report for March 2014
  3. Clarington Real Estate Market Report for March 2014
  4. Whitby Real Estate Market Report for March 2014
  5. Ajax Real Estate Market Report for March 2014

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5 thoughts on “Pickering Real Estate Market Report For March 2014

  1. Pingback: Durham Region Real Estate Market Report For March 2014 | Shawn Lepp

  2. Pingback: Ajax Real Estate Market Report For March 2014 | Shawn Lepp

  3. Pingback: Clarington Real Estate Market Report For March 2014 | Shawn Lepp

  4. Pingback: Oshawa Real Estate Market Report For March 2014 | Shawn Lepp

  5. Pingback: Whitby Real Estate Market Report For March 2014 | Shawn Lepp

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