Rossland Real Estate Statistics

One of my clients asked me for some statistics for the Rossland real estate market, so these are the stats for the last 12 months (ending 27 May 2010):

Selling Price of Single Family Detached Homes sold in last year:

below 150K: none

150-174K: 4 homes

175-199K: 4 homes

200-224K: 7 homes

225-249K: 5 homes

250-274K: 5 homes

275-299K: 6 homes

300-324K: 4 homes

325-349K: 2 homes

350-399K: 1 home

400-449K: 3 homes

450-500K: 4 homes

500K+: none

A pretty even distribution, with most in the 200's.  Below 150 is almost certainly a tear-down shack.

32 homes now on the market , average days on market so far : 96

43 homes sold in the last year, average days on market: 110

Another 30 listings expired in the last year WITHOUT SELLING, after average days on market of 161

That means that 41% of listings have sold in the last year (though some are new listings, and some solds were listed the previous year). 

59% of listings did NOT sell. MAKE SURE TO PRICE APPROPRIATELY AS BUYERS ARE NOT DESPERATE

Of homes sold, the average price reduction was $22,474, or 5%.  

Of sold homes above $400K, the average price reduction was $66,300, or 11%

Of homes sold between $275-375K, the average price reduction was $18,015, or 6% 

Of homes sold between $175-275K, the average price reduction was $17,375, or 5% 

Of sold homes listed between 300-350K, the average days on market was  86

More homes were sold between May and August than in other months.

The above data does not include the condos at Red Mountain, where sales and prices are both significantly lower than previous years because the low US dollar and weaker US market has reduced the number of buyers of ski property at Red, and many transactions aren't trackable as they were direct sales from the developer.

See original: Rossland Real Estate Statistics