In order to understand the attractiveness of the Rural neighbourhoods for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the second quarter of 2014 is compared side-by-side to the second quarter statistics of 2013, with with the increase or decrease in results in the right hand column.
3rd Quarter 2013
3rd Quarter 2014
Average Home Price
Active Listings Inventory
Average Days On Market
% Of Sold Price To Listing Price
Home sales in 2014 decreased to 14 from 18 in 2013, and the Average Home Sale Price increased on average by $125,988. At the same time there were 4 more Active Listings in 2014 and the same number of New Listings, and the prices went up as product increased slightly. Surely, the desirability of the neighbourhood helped keep the prices up, too, but continually low interest rates also helped keep sales fairly stable. During the same period, the Average Number of Days on the market increased from 75 in 2013 to 93 in 2014 which is still good for home sellers considering the homes are usually quite expensive. The Percentage of Sold Price To Listing Price increased to 102% in 2014 from 95% in 2013. All of the Rural real estate sales is usually from detached estate homes or farms and not from any other type of home as is the norm in most other parts of the town. This extremely desirable neighbourhood is another indicator of the strength of the overall King Housing Market.
Number of Sales 2013
Number of Sales 2014
This is another example of Real Estate as a Great Investment. At present there is relatively low risk with excellent chances of increasing the value of your own estate. With homes selling fairly high in a relatively short length of time, the Rural neighbourhood continues to be strong in King real estate and a great investment. Our strong economy should continue with this neighbourhood helping to lead the way.