Miscellaneous
?Sales are up this week with a pretty big jump (from 61 to 70); but listings are up too (77 to 84). At 84 listings, we almost hit the peak we have seen over the last year and a half for new listings in one week... that’s a lot of new red dots on relator.ca! ?Pending deals took a pretty big dip this week. Going back to the mid-teens is some of the lowest numbers we have seen since February! A reminder that pending deals are a snap shot in time as to how active the market place is. Seeing this, we could be preparing for a shift in the market. ?Again the biggest number we are focusing in on is total listings. It seems to be the theme for the last few weeks. We almost hit 230 listings available in Sudbury this week! It was only in March that we were in the 130’s and now we have added another hundred listings in addition to what was there. Not only is the number large; it's also a big increase of almost 20 additional listings (10% more listings this week than last week). We are seeing that spread between new listings versus pending and sold places get bigger and bigger! These are all encouraging signs for buyers in this marketplace. ?Not only did the million dollar sales continue this week, but we saw the biggest volume week of sales ever in the Sudbury Real Estate Board. Previous to this week, the most expensive house to ever sell in Sudbury happened back in 2016 when the recent seller of the Sudbury Wolves purchased the stunning flip home on Torbay road for 3.2Million. Well, this week we saw the 4Million mark broken not once but twice (one time in Sudbury and one camp in the French). That was couple with 9 total sales that were over 800k; most of these sales all happened on the same day with the same buyers agent too! When you take a look at a snapshot of the top 12 sales this week that totals almost 15Million Dollars worth of real estate that sold in the City (and that would hit 20Million if you add in the numbers from French River too). The rumour mills are churning in Sudbury as to where the money is coming from; but from what I hear it's nice to have a local resident hit the lottery big time and scoop up some local real estate for themselves and their family. ?Where is the market going? We are seeing two stories continue to play out. This week marks the largest sales volume of real estate ever to happen in Sudbury; without a doubt its probably 3 or 4X an average week of sales. All the while, we are seeing more listings and fewer pending, which, if we are to make inferences from the numbers we should see a slow down in the market place happening. What is underlying this is that fact that buyers are in a strong position to jump on places they really want, and aren’t afraid to write massive offers to get them. While at the same time, not every house is selling, and come offer night a lot of properties find themselves hearing crickets when they are waiting for offers to come in. Special thanks to all of our listeners! Until next week, ? Subscribe to our Lake City Realty Youtube channel ? Follow us on Instagram ? Keep up with us on Facebook ? Support our podcast Selling the Rock - like, share, comment or leave a review!