Hous­ing in­ven­tory is high, but av­er­age price re­main­ing steady in Swift Cur­rent

Prairie Post (East Edition) - - Swift Current - CON­TRIB­UTED BY KESLEY ADAM

Year-end MLS® statis­tics re­leased Jan­uary 1 show that de­spite a higher than nor­mal in­ven­tory level and a 12% re­duc­tion in sales, the av­er­age price for a home in Swift Cur­rent re­mains un­changed.

There were 246 sales of sin­gle-fam­ily homes, lots and multi-fam­ily units in 2018, which was down from the pre­vi­ous year’s to­tal of 280 but not too far off 2016’s to­tal of 258. Mean­while, the num­ber of prop­er­ties that came up for sale in the city crept up slightly from 534 in 2017 to 542 last year.

Kelsey Adam runs his own real es­tate team within Cen­tury 21 Ac­cord Realty and has sold real es­tate in the area for over 20 years. He said that sales num­bers have only dipped be­low 250 one other time in the past 13 years. “Since 2006, we have seen less than 250 sales only in 2010,” he com­mented, “and with in­ven­tory in­creas­ing every year and sales down this year, we have al­most dou­ble the num­ber of prop­er­ties we had on the mar­ket this time four years ago.”

In­deed, the end of De­cem­ber saw 184 homes on the mar­ket com­pared to just 94 in 2015, but de­spite that, the av­er­age sale price re­mained un­changed from the pre­vi­ous two years at $274,000.

“De­spite hav­ing al­most 9 months worth of in­ven­tory out there, we aren’t see­ing a dras­tic change in prices,” stated Adam. “Where we are see­ing a change is in the length of time it takes to sell a home.” The stats, com­piled by Tren­lii An­a­lyt­ics, peg the av­er­age sale time at just over 87 days, as com­pared to al­most 82 days last year and only 55.5 days in 2015.

“It means sell­ers have to prac­tice some pa­tience and it means they can’t be overly op­ti­mistic in their pric­ing strat­egy,” said Adam, adding, “It also sug­gests that buy­ers have a good se­lec­tion and per­haps a lit­tle more lev­er­age in ne­go­ti­at­ing, how­ever the av­er­age sale price con­tin­ues to hover around 94% of the cur­rent ask­ing price.”

Kelsey Adam is a real­tor in Swift Cur­rent

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