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Real Talk Monthly Newsletter Michelle Lewthwaite, Remax 100
Thank you for joining me! This newsletter is my amazing tool to bring the most relevant and up-to-date information about the
100 Mile House & Surrounding Real Estate market right to your inbox!
Enjoy & let me know how I can help!
Current Market Stats 100 Mile House
- SEPTEMBER Market Breakdown -
66 sales happened in September 2020 up 74% from 2019. This figure is on track with the entire province, showing record sales. This is largely due to pent up demand, the prediction of a supply shortage and the extremely low interest rates. The pandemic had an early effect on the housing market and kept many buyers and sellers out of the market, but the rebound has been astronomical and we are looking into the Fall and Winter months to hold strong as buyers finally secure their properties they couldn't in earlier months. The worry I have is that our supply is quickly dwindling and this will drive prices way up. New Listings
52 new listings across raw land and residential hit the market in September. Again, the number is somewhat hard to determine its accuracy due to the fact many held of listing in earlier months, but it is still a strong number showing that our market is very active. Now that sales succeed listings, the market has turned into a Sellers market. What we typically see in this type of scenario is prices rising, sharp priced homes selling in days (hours), and bidding wars.
Days on the Market
Yikes! 56 days on the market is all it took if you listed in September. Typically it takes 1 week as absorption time while the listing settles into the market, buyers get through the house and those buyers coming from other markets drive up here for viewing. Once an offer is accepted, we are looking at 2 weeks for conditions and then another 30 days for closing. So in reality, the figure 56 tells me that buyers are getting offers within that first 7 days of absorption time! This is an excellent example to PRICE PERFECTLY AND GET AN OFFER! Sale Price
$329,000 is the average price of sold properties in September. Keep in mind that this is considering ALL markets including raw land. To get an exact figure for the price of your home, send me a quick email and we can talk about exactly what the value of your home is today!
Do you know the absolute easiest way to get those docks out of the water? A crane of course! Nomad Crane happens to be a great friend (OK family) and the truck runs from Kamloops all the way through the Cariboo. It is called Nomad after all! So, if you need a dock out of the water and are ready to switch from the good ol' 'tear up the lawn with the truck or rip apart the dock' system every year to something a bit easier, call Travis to arrange to come and put the docks exactly where you want them for Winter storage. The truck is usually around the Cariboo so having this done is affordable and easy!
New to the Cariboo?
Have you checked out the Cariboo Family Enrichment Centre Downtown 100 Mile House? This is an excellent touchbase for new families to the community - drop in to learn about childcare options, community programs, events and social resources.