January 7, 2013

PRESS RELEASE from

The Quinte & District Association of REALTORS® Inc.

Residential Sales for December 2012

When comparing the month of December 2012 to December of 2011, unit sales for residential properties in the Quinte & District Association of REALTORS® MLS® System decreased 26.2%, going from 126 units in 2011 to 93 units in 2012.  The dollar volume for those sales also decreased by 26.2%, from $26,476,536 for December 2011 to $19,529,200 for December 2012.

Residential Listings for December 2012

In the month of December, there was an increase of 15.4% in new residential listings entered on the MLS® System in the Quinte area, as compared to December 2011.  All active listings can be viewed at www.quinte-MLS.com.

PRESIDENT’S 2012 OVERVIEW

2012 ended with the total residential units sold showing an increase of 7.9% over 2011.  The total dollar volume of residential sales for 2012 also showed an increase of 8.1% over 2011.  There were 1,241 active residential listings at the end of 2012 as compared to 1,442 at the end of 2011, reflecting a decrease of 13.9%. 

The average residential sale price remained steady from 2011 to 2012, showing an increase of only 0.1%. There appears to be a gradual increase throughout the year in the number of residential sales that are occurring under 200,000, with 54.84% of sales in this category for December.

2012 showed double digit gains in monthly sales over 2011 up to July.  From August onward, the tightening of credit, new mortgage rules and the warnings of “high consumer debt” turned the market into mostly double digit decreases as compared to the year before.

Despite national trends, the Quinte area holds promise to maintain an active market in 2013.  We have a positive forecast on future employment opportunities, continued military expansion and the aggressive promotion of our area as a great place to live.  Quinte & District has also come to the attention of many seniors and new Canadians as the perfect place to retire or raise a family.

“REALTORS® have the knowledge and education to advise you of the best strategies to use when buying or selling your home in the current market.  For professional advice, contact one of our local Quinte & District Association REALTORS® today.”

MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

Visit our website at www.quinte-MLS.com

The Quinte & District Association of REALTORS® Inc. serves the interest of 367 licensed real estate Agents in the Belleville, Quinte West, Prince Edward, Madoc, Marmora, Stirling, Tweed, Brighton, Campbellford/Seymour, Colborne, and Deseronto areas as well as other adjacent communities.

Sharon Shortt, 2012 President, Quinte & District Association of REALTORS® Inc is available for further comment or local statistics at 613-849-0276.