This week on The Sudbury Real Estate Podcast, David Kurt is checking in from his house after a long week of self isolating. Despite the market feeling like there is no homes available...New listings outpaced Sales again this week. Here are the numbers:

David Kurt is joined with special guest, Vince Mirabelli, a Real Estate Broker in Thunder Bay!⁣ Vince is 𝘵𝘩𝘦 realtor to look up to when it comes to giving back. He truly is the guru of real estate fundraising in Canada! 🇨🇦⁣ He is known for his radiant nature and drive to make an impact in the communities that surround him and has successfully woven himself into the fabric of Thunder Bay!⁣

In this episode, Vince chats about...

This week on The Sudbury Real Estate Podcast, David reviews the stats: number of sales, pending deals, multiple offers, new listings and total listings. 

Sales 💰

🥶 BRRRRR. We have a cold few days ahead of us here in Sudbury Ontario! This week, Dave looks at how this years numbers stack up to last years numbers. The number of sales and listings was almost right on par. The big difference was in the total of New Listings. Take a look!

Welcome to 2022!🎉

After a few weeks off with the family, David is back on the mic to give you the breakdown of Sudbury's Real Estate market activity! It was slow over the holidays, which is to be expected. The last week of December we actually dropped down to under 50 listings total in the residential Sudbury market. Buyers and sellers were still equal over the break with 10 sales and 11 new listings, typically people shopping and listing at this time are extremely motivated. Showings will be down significantly, but the buyers and sellers who are active at this time aren’t kicking tires.

Starting out 2022 we see listings outpacing sales by 3:1. This isn’t surprising as the buyers are still in holiday mode until about mid-January, while the sellers hitting the market this week is the pent up demand that would have typically listed last week but held off because of Christmas and New Years.

Rayside

This week David and Tristan sit down together to share their three big BOLD predictions for Sudbury's 2022 real estate market.

Tristan’s Predictions:

David Kurt - Broker of Record

Tristan Ritchie - Team Leader Ritchie Natale Group

This week David and Tristan sit down together to revisit their three big BOLD predictions from this time last year! 👀

Tristan’s Predictions:

David Kurt - Broker of Record

Tristan Ritchie - Team Leader Ritchie Natale Group

On a real estate front we are ticking down the time to Christmas. The market is basically in a lul between early December until early Janaury, and we saw that play out in the numbers this week. On a national level the Bank of Canada held off with the December rate increase, keeping the benchmark rate (which controls variable interest rates) unchanged. Although the writing is on the wall that there is some significant increases coming in 2022.

As we transition to the winter market, it seems like there are more offers than ever before on some of the places that were holding offer nights. 10+ offers seems to be the norm on a lot of these properties, which means that there are a ton of buyers who are out there competing trying to get something without any luck.  Odds are they are buyers who will continue to be motivated and be looking to jump on something in the next few weeks keep an eye on that as a possible trend. The market was equal between sales and new listings...and this is the first time i’ve seen that in almost 2 years of tracking activity. Want the full breakdown of this week's market trends, transaction and activity? Tune in!

Sudbury's Real Estate Market continues to be very active! We continue to see the trend playing out where there are fewer sales than new listings and despite that, we see total listings, which is already at historic low’s -  drop even further. 🏡⬇️