February was another busy month of record sales in the residential market where 1,010 properties were sold, compared to 908 properties sold in the same month last year, an increase of 11.2 per cent.

Here are the highlights of the market’s performance in February:

• The majority of the sales were in residential homes priced in the $300,000 to $399,999 price range, followed by $400,000 to $499,000 range, which accounted for 54.6 per cent of the residential market.

• For condominiums, the majority of the sales were in residential homes priced in the $150,000 to $249,999 price range, which accounted for 54.9 per cent of the condominium market.

• The following residential property types that were popular among buyers were:
  – 1 1/2-storey homes with an average sale price of $285,633 (down 10 per cent from February 2016), and
  – 2-storey homes with an average sale price of $440,297 (up 10.5 per cent from February 2016). This specific property type generated half of the sales in the residential market.

• The following condominium property type that was popular among buyers were:
  – three-storey homes with an average sale price of $263,325 (up 29.8 per cent from February 2016).

Home Tip: Always price your house slightly less than the other houses for sale so that your house is the most attractively priced listing in the neighbourhood. This will attract a large of number of qualified buyers to place competitive offers on your house, which can be sold quickly above the original listed price. This will result in earning more money for your pocket. At the end of the day, your ultimate goal is for house to always look better than the competition.

For more practical tips and strategies on pricing your house the right way to be sold quickly at the highest possible price, you can contact me at miketheagent@remaxcore.com or (613) 890–SOLD (7653).