MARKET UPDATE (FEBRUARY 2023)
Just your friendly neighbourhood Real Estate Advisor wanting to bring you up to date on what’s happening at The Verve:
New Listings:
#106 563 Yates Road - 1 Bed | 1 Bath
#402 555 Yates Road - 2 Bed | 2 Bath
#407 555 Yates Road - 2 Bed | 2 Bath
#204 547 Yates Road - 2 Bed | 2 Bath
Sold Listings:
#117 533 Yates Road - 1 Bed | 1 Bath
In February, there were four new listings, which represents a 42.86% decrease compared to the seven listings in February of the previous year. There was one sale, which represents an 80% decrease compared to the five sales in February of the previous year.
The average sold price for a 1-bedroom, 1-bathroom unit was $414,000, which represents a 4.83% decrease compared to the average sold price of $435,000 in February of the previous year. There were no 2-bedroom, 2-bathroom units to sell in February; however, the average sale price for a 2-bedroom, 2-bathroom unit was $519,125 in February 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 - $391,950 (↑ from $391,733 in 2022)
2 BED / 1 BATH - nil (↑/↓ from $470,000 in 2022)
2 BED / 2 BATH - $465,000 (↓ from $522,057 in 2022)
3 BED / 2 BATH - nil (↑/↓ from $500,000 in 2022)
MARKET INCREASE/DECREASE (YTD)
1 BED / 1 BATH - ↑ 0.06%
2 BED / 1 BATH - nil
2 BED / 2 BATH - ↓ 10.93%
3 BED / 2 BATH - nil
AVERAGE DAYS ON MARKET (YTD)
1 BED / 1 BATH - 100 (↑ from 24 Days in 2022)
2 BED / 1 BATH - nil (↑/↓ from 45 days in 2022)
2 BED / 2 BATH - 44 (↑ 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 - 3 Units (22 Listings in 2022)
2 BED / 1 BATH - 0 Units (1 Listings in 2022)
2 BED / 2 BATH - 4 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 - 2 Units (17 Units Sold in 2022)
2 BED / 1 BATH - 0 Units (1 Unit Sold in 2022)
2 BED / 2 BATH - 1 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
