The Pelham housing market is entering into the new year in solid shape, with predictions of another positive year of growth on the horizon.
During 2013 residential sales in Pelham reached a total of 215 transactions, a healthy 2.87% increase over the total of 209 recorded in 2012.
It is the surging average price growth in our community that is the number to watch in 2014. The 12-month average price in Pelham continues to rise at a startling pace – now standing at $347,250– up 8.4% from the figure of $320,685 recorded at year-end 2012.
According to the RE/MAX Housing Market Outlook 2013 released in December new peaks in average price were realized in almost every one of the 26 major centres across the country examined in 2013, with the national average forecasted to appreciate 4% by year-end.
Next year national home sales are expected to climb another two per cent to 475,000 units while the value of an average Canadian home is predicted to jump another 3% to a national average price of $390,000.
Categories: Real Estate Market Update