September was slow. Only 7 homes sold, down from 14 in August. Homes took 36 days to sell. And sellers got 94.5% of asking, the lowest since early 2023.
The numbers
| Home type | New listings | Sold | Avg. days | Avg. price |
| The Preserve | 46 | 7 | 36 | $1,200,929 |
| Condo | 18 | 1 | 17 | $1,035,000 |
| Condo Apartment | 13 | 0 | n/a | n/a |
| Condo Townhouse | 5 | 1 | 17 | $1,035,000 |
| Freehold | 28 | 6 | 40 | $1,228,583 |
| Freehold Townhouse | 15 | 2 | 36 | $956,750 |
| Freehold Detached | 13 | 3 | 32 | $1,446,667 |
New listings means homes newly listed in September, not the total number of homes for sale. Days and price are averages.
Versus last September: average price down from $1,353,332, new listings down from 61, sales down from 9, and average days on market up to 36 from 21.
What does this mean for you?
The average came down this month, but don't read too much into that. Only 7 homes sold, so one or two sales can swing the number a lot.
Freehold did most of the work. 6 sales, including 3 detached and 2 townhouses. Detached averaged $1,446,667 and sold in 32 days. Townhouses averaged $956,750 and sold in 36. Both are down from last September, when detached was around $1.8M and the one townhouse that sold went for $1,050,000.
Condos barely moved. 1 condo townhouse sold at $1,035,000. 13 apartments came on the market and none of them sold. That's two months in a row with no condo apartment sales here.
Speed slowed down too. August took about 30 days. September took 36. And sellers who sold got about 94.5% of their asking price, the lowest since early 2023. Buyers are still buying, they're just negotiating more.
Around the Preserve
Fall is here. The leaves are turning along the trails, Halloween decorations are going up, and it's getting dark a lot earlier. The market is shifting with the season too.
Here's the part I'd pay attention to. 46 homes came on the market in September, up from 32 in August. Only 7 sold. So a home listed this fall has more competition than it did a month ago, and the buyers out there have more options to look at.
That doesn't mean you can't sell. September showed homes priced right still sold, just with more back and forth on price. If you've been thinking about selling, or you're curious what your place would go for right now, reply to this email. No pressure, happy to just talk it through.
Essam Nadeem
Realtor, The Preserve Guide
Questions, or just want to chat? Email anytime.
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