The Fall market is in full swing.
In October 2011, 15 homes sold in The Annex, at an average price of $1,022,917. On average these properties took 25 days to sell and sold at 101% of their listing price. A total of $15,343,750 worth of real estate changed hands on the MLS system in October.
All signs point to a seller’s market in The Annex. Average selling price is up 3% over this same time last year, homes are selling at 101% of their asking price, and there are significantly more properties selling this year vs. the same period last year. Now is a good time to sell in The Annex.
These numbers support the anecdotal evidence from our salespeople that The Annex still faces a lack of supply, not demand. When submitting offers on The Annex properties, buyers have been facing multiple offer scenarios left, right, and centre. There are just not enough properties available.
Provided below are some overview charts of the market activity in The Annex since Dec 2009. If you would like to download a report that outlines all of the details (including sold price) of the homes that sold in The Annex in October 2011 click here: The Annex Real Estate Market Report Oct 2011 Donwload.