Market Update August 2023

Hello, everyone. Let's look at the numbers. So in the Hundred Mile market, back in June when I did my last market update, across the entire Hundred Mile market for residential and bare land together, we had 317 listings. Now we're up to 395, which is not unexpected. We know the mid-July timeframe's usually about when the inventory peaks. When we look at the whole area for solds, in the month of May, we had 46 sales. That's across residential and bare land. June we had 40, and in July we had 48. I was interested about this number, 'cause in June, on the home sales side, we didn't actually have a lot of residential sales, so I'm surprised to see this number's as high as it is made up by recreational property sales. So that was 46 in May, 40 in June, and then 48 sales across the board in July. It's August 16th, and I think we were sitting at 13 or so sales for the month. So four actives. Currently in the Bridge Lake/Sheridan Lake market and the Deka/Sulphurous market together, we've got 98 homes as well as bare land for sale, and in May we had 67, so there's a big jump there. And in July, for Bridge Lake and Sheridan Lake, we sold seven. We currently have 70 places on the market, so that's 10 months worth of inventory. Deka Lake is six sold in July, and they're at 28 for their inventory, so they're a little bit less than us. But if you're sitting with a place on the market right now, you don't have 10 months to get it sold. Once the snow flies, things will slow down. So bare land especially, you guys should be talking to a realtor if you want to see it gone before the snow flies. When we look at our month's supply, I'm just going to share my screen, and we'll look at the stat center. So what I've got here is we've got the 100 Mile House in green, Bridge and Sheridan in this, I don't know what color that is, and Deka/Sulphurous in this purple color. So you can see our monthly supply is not terrible. When we look at the historical averages, it was really slow, sometimes taking a couple of years to sell a house back here, and we're over here, so that's not terrible. You can see sales numbers are not terrible. They're above where they were in those very slow years, and we've got active listings are coming up, but also, again, we're not where we were. Average sales prices, of course, we've still got a bit of the lump left over, 'cause we're looking at a rolling 12 months worth of data, so we did have that peak, and things are sort of settling out. Yeah, so hopefully you have found that helpful. I'm Amanda Oldfield with ExP Realty, and if you guys have any questions about the market, give me a call.

I'm here to help. 250-318-5202