MARKET UPDATE (MARCH 2023)

Real Estate

Apr 1

Just your friendly neighbourhood Real Estate Advisor wanting to bring you up to date on what’s happening at The Verve:

New Listings:
#300 539 Yates Road - 1 Bed | 1 Bath
#402 539 Yates Road - 2 Bed | 2 Bath
#208 547 Yates Road - 2 Bed | 2 Bath
#204 539 Yates Road - 2 Bed | 2 Bath
#214 533 Yates Road - 2 Bed | 2 Bath

Sold Listings:
#106 563 Yates Road - 1 Bed | 1 Bath
#204 539 Yates Road - 2 Bed | 2 Bath
#402 539 Yates Road - 2 Bed | 2 Bath
#214 533 Yates Road - 2 Bed | 2 Bath
#307 555 Yates Road - 2 Bed | 2 Bath

In March, there were five new listings, which represents a 44.44% decrease compared to the nine listings in March of the previous year. There were five sale, which represents a 44.44% decrease compared to the nine sales in March of the previous year.

The average sold price for a 1-bedroom, 1-bathroom unit was $407,000, which represents a 2.80% increase compared to the average sold price of $395,900 in March of the previous year. The average sold price for a 2-bedroom, 2-bathroom unit was $450,700, which represents a 18.14% decrease compared to the average sold price of $550,571 in March of the previous year.

Below you will find Year-to-Date market statistics for Average Price, Market Increase/Decrease, Average Days on Market, Number of Listings, Number of Units Sold, and Sold Inventory.

If you have any questions, please do not hesitate to reach out.

Your Verve Specialist,

KYLE B. JANZEN, B.Comm
Personal Real Estate Corporation
Sage Executive Group Real Estate
t: (778) 215-2784
e: kylebjanzen@gmail.com
w: www.kylebjanzen.com

AVERAGE PRICE (YTD)

1 BED / 1 BATH - $396,967 (↑ from $391,733 in 2022)
2 BED / 1 BATH - nil (↑/↓ from $470,000 in 2022)
2 BED / 2 BATH - $453,560 (↓ from $522,057 in 2022)
3 BED / 2 BATH - nil (↑/↓ from $500,000 in 2022)

MARKET INCREASE/DECREASE (YTD)

1 BED / 1 BATH - ↑ 1.34%
2 BED / 1 BATH - nil
2 BED / 2 BATH - ↓ 13.12%
3 BED / 2 BATH - nil

AVERAGE DAYS ON MARKET (YTD)

1 BED / 1 BATH - 74 (↑ from 24 Days in 2022)
2 BED / 1 BATH - nil (↑/↓ from 45 days in 2022)
2 BED / 2 BATH - 49 (↑ from 23 Days in 2022)
3 BED / 2 BATH - nil (↑/↓ from 6 days in 2022)

NUMBER OF LISTINGS (YTD)

0 BED / 1 BATH - 0 Units (1 Listing in 2022)
1 BED / 1 BATH - 4 Units (22 Listings in 2022)
2 BED / 1 BATH - 0 Units (1 Listings in 2022)
2 BED / 2 BATH - 8 Units (44 Listings in 2022)
3 BED / 2 BATH - 0 Units (3 Listings in 2022)

NUMBER OF UNITS SOLD (YTD)

0 BED / 1 BATH - 0 Units (0 Units Sold in 2022)
1 BED / 1 BATH - 3 Units (17 Units Sold in 2022)
2 BED / 1 BATH - 0 Units (1 Unit Sold in 2022)
2 BED / 2 BATH - 5 Units (29 Units Sold in 2022)
3 BED / 2 BATH - 0 Units (1 Unit Sold in 2022)

SOLD INVENTORY (YTD)

JANUARY
#207 567 Yates Road - 1 Bed | 1 Bath
#104 533 Yates Road - 2 Bed | 2 Bath

FEBRUARY
#117 533 Yates Road - 1 Bed | 1 Bath

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Kyle B. Janzen