First, let’s see how much the value of this city's properties have appreciated compared to the same period last year.
Within ONE year
The average value appreciation for properties over 1 Year, 3 Year, 5 Year and 10 Year periods.
Then, we can compare the Benchmark Price for properties in with the benchmark price of properties in its zone. This can indicate if relatively properties in are more expensive or cheaper than the properties in other cities within the same municipality and zone.
Please be careful not to misinterpret benchmark prices as actual prices. Benchmark prices are calculated for certain properties that are considered as typical properties in a given community. MLS benchmark prices are determined to help track price trends and do not reflect the price of any one particular property.
Property Type Comparison
Finally, we can see the price appreciation of different property types in over a 3 Year period.
Recent Market Activity
Now let's take a look at some more indicators from the most recent real estate market activities in that can help you better understand the current status and trends of the real estate market in this community.
Average Market Price
The chart below displays the monthly trend of average market price for all type of properties in . Note that each point on this chart demonstrates the average sold price of the properties in a given period, and may fluctuate severely if the quality and standards of the listed properties vary greatly.
Average Days on Market
DOM or Days on Market indicates the number of days from the listing date of a property to the date that property has been sold. This chart indicates how in-demand properties are in and how this demand has fluctuateds over the span of a year.
What should you look for
when analyzing the market?
When analyzing data, you should always read between the lines to understand the actual trends. The numbers are all good, but it takes a bit of contemplation to make sense of it all.
Most notably, it makes a huge difference if you are looking at the data from a home owner's point of view or if you are trying to evaluate the market from a home buyer's viewpoint.
As a homeowner, you may wish to understand your community's real estate market situation, and know what to expect should you wish to put your property up for sale, or you may just be curious to find out what your property may approximately be worth and assess your capital gain potential. You would want to look at data that can indicate how much your property has appreciated since the day you bought it. You can see what the average asking price for properties similar to yours in your community has been, or how fast you should expect your property to sell.
As a home buyer on the other hand, you may either be looking to find your future home, or be looking to find that perfect investment property. Either way, this is going to be a significant investment and you'd want to make an informed decision. You would want to look at indicators that suggest which communities in a municipality will probably have the strongest price growth in the future, or which property type would gain the best capital in your favorite neighborhood. You can also see how likely you would be to find your ideal home within your budget.
We can see how active the market has been in , by comparing the number of newly listed properties in a given period with the number of properties that have been sold and the number of active properties still remaining at the end of the period. The more properties are listed and sold, the more vibrant the market is in any given community.
The Recent Deals
Now let's see How Many Properties have sold in during the last monthly and for How Much.
Properties Within the last month
Price average Within the last month
That's % of average asking price
What you shouldn't Forget About?
THE KEY TO MAKING AN INFORMED INVESTMENT DECISION IS TO UNDERSTAND YOUR OPTIONS
Thinking To Sell?
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