Sales grow for higher priced homes

Home sales were down slightly in February, but the total value of homes sold increased? How is that possible?

Residential Sales By Price 2016-03-15.jpg

This is a reflection of a long term trend in the market, where the mix of homes sold in Prince Edward County has been changing over the last five years, with a shift toward higher value homes.

The number of homes sold for under $300,000 (blue) has flattened in recent years, while home sales in the mid and upper price ranges have grown.

The increase was most marked for homes selling for over $500,000 (orange), which grew in number by 77% in from 2013 to 2015