At this time we are pleased to provide you with the RE/MAX Real Estate Market Report for the month of DECEMBER 2022. The information herewith attached to this email is created using the data provided within The Lakelands Association of Realtors monthly report from CREA.
The month of December reported the lowest amount of units sales in 2022 with a total of 85 unit sales in Lakelands West. This is down from 110 sales previously reported in July.
This is common for the time of year, and notably in relation to the number of new listings in December, the absorption rate for the month was 18% (85 reported sales vs 473 active listings).
New inventory remained low in December and the holiday season.
There was a total of 117 new listings in Lakelands West, this is down from 235 new listings in November, but again a number that is consistent with previous years in December.
The 12-month average sales price of a detached single-family residential home has continued to decrease month-over-month (November to December). Although the year-over-year average sales price remains an increase at this time in the market.
Included herewith below are examples from some of the Lakelands West municipalities for both the month-over-month and year-over-year values at this time: