We have reached the end of the 1st quarter of 2013 in the real estate market. It has been a great start for our Williams Lake & area market and is looking like a great year is ahead of us. As of March 31, the year to date sales have equalled $6,182,400 for our area in the single housing market. A total of 25 sales took place since January with the average sale at $247,296. The 1st quarter saw 44 new listings selling at an average of 55.5 days. In comparison to last year at this same time, the total number of sales were down slightly but the average sale of a home was up approximately 6%.
In March, we saw 13 properties sell which is right in line with last year which saw 14 sales in March. The average property selling though compared to March 2011 was substantially up from $226,242 to $277,184 in March 2013. Interesting enough though, the average days to sell was within 0.7 of a day from 2012 to 2013.
As many folks are starting to think "lake properties", last year didn't see any properties purchased at this point where this year we have already seen a purchase in the market. The interest is definitely growing again for recreational properties so we may see an increase in sales in our Chilcotin market.
Manufactured properties has seen a substantial increase in the average sale price compared to last year during March. This year the average sale price is $45,450 where as 2012 was $36,942. The interest in manufactured properties seems to be rising again as the average days on the market this year was 64.3 where last year was significantly longer at 194.7 days.
Many buyers look to purchase a manufactured home on land. This market can fluctuate but has almost doubled in sales for this quarter in comparision to last year's 1st quarter. Strangely though, the average days on the market this year is longer at 125.5 days than last year which saw an 80 day turnover.
I am excited to see where our 2nd quarter will take the Cariboo/Chilcotin market. There are many factors that can influence the market in different ways so time will tell how we will fair in the BC market. I know our area has plenty to offer buyers and I look forward to discussing all the reasons why to buy in the Cariboo/Chilcotin.
If you are looking to add to the market statistics by buying or selling, do not hesitate to contact me to get started in your real estate venture.