Thursday, 10 August 2017 08:52

Swift Current real estate market looks to be on rebound

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While the first half of the 2017 real estate market in Swift Current has been holding steady, July sales figures will make the next quarter interesting to watch.

According to Kelsey Adam of Century 21 Accord Realty, MLS® system statistics for January to June showed 146 sales this year, up about 14% from last year’s 128. Those sales include houses, condominiums, mobile homes, vacant lots and multi-family units.

“Last year we were slower until the last quarter, so I am not surprised to see the numbers higher than 2016,” said Adam.
“As far as second quarters go, it was actually a little lower than average,” he added, “but a strong first quarter helped to push us ahead of the previous 2 years.”
The average sale price was up over last year as well, coming in at $287,297 compared to $263,640 in 2016. However, the median sale price was exactly the same at $255,000. Adam stated that was a truer indication of an even market.

“While higher priced sales can swing averages, the median price holding steady indicates that we have a balance market with not only strong sales, but also a healthy inventory,” he explained.

The average sale price continued fairly steady at 96% of the final asking price.
In the first half of this year there were 261 homes that came on the market, which is down from last year’s higher total of 282. As of the end of June, there were 172 homes on the market which is close to average.
New statistics just released show that July sales were extremely strong -- almost double that of 2016. “July was a pleasant surprise,” said the lead agent of the Kelsey Adam Real Estate Team. “Last year we sold 18 units and this year we sold 32.” While he is not sure what caused the spike, the surge in activity not only pushed the average price to $301,116 but also drove the median sale price to $308,000. “It is going to be interesting to see if those numbers were an anomaly or if we are in for a busy third quarter,” Adam mused.

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