By now you’ve probably seen the headlines exalting the quick pace of the Montreal real estate market in the first quarter of 2016. Here’s a focus on one of the micro-markets where I work a lot: Kirkland QC.
First Quarter Sales of Kirkland Single Family Homes
Q1 2016: 49 homes sold, median sold price of $453,000, average of 70 days on market before selling.
Q1 2015: 57 homes sold, median sold price of $435,000, average of 74 days on market before selling.
Just looking at this data, it looks like sales have really slowed down in the first quarter of 2016. The truth is that sales in Kirkland in 2015 were making up for a tough market there in 2014 as you can see here:
Q1 2014: 43 homes sold, median price of $415,000, average of 63 days on market before selling.
Annual Sales Statistics
In fact, for a more complete picture we should take a look at all of 2015 compared to all of 2014 for sales of single-family homes in Kirkland QC.
2015: 209 sales, median sold price of $450,000, average of 73 days on market before selling.
2014: 196 sales, median sold price of $427,250, average of 74 days on market before selling.
The 2015 Kirkland QC real estate market showed tremendous improvement over 2014, both in the number of sales of single-family homes (up almost 7%) and in the median sale price (up 5%) with homes taking about the same amount of time to sell (about a month and a half).
So far in 2016, we are again seeing higher median sale prices (up 4%) but also fewer sales compared to 2015 (down 14%) – though the sales number is much better than it was at this time in 2014. The market is also moving much more quickly so far this year, with homes taking about a month to sell on average in Kirkland.
Wondering how all of this might affect you and your prospects of selling quickly and for top dollar – or finding a home you love in Kirkland? Give me a call, text or email (firstname.lastname@example.org) and let’s talk about how I can help you.