The Encanterra real estate market has seen some notable shifts over the past year. While active listings have risen, indicating growing inventory for buyers, new listings have declined suggesting less seller activity lately. However, the number of sold listings has remained steady, pointing to consistent buyer demand in the area.
In July 2022 there were 8 properties sold in Encanterra, while in July 2023 this number increased to 10, a 25% increase. This uptick in sold listings shows strengthening buyer activity even with fewer new property listings coming on the market.
The average sales price in July 2022 was $617,613, compared to $650,000 in July 2023, representing a 5.2% increase. This continued price growth makes pricing strategy and negotiation important for both buyers and sellers.
The sale-to-list price ratio decreased from 99% in July 2022 to 95% in July 2023. This means sellers are getting slightly less than their asking price on average, signaling a shift towards a more buyer-friendly market.
Active listings did rise significantly from 23 in July 2022 to 35 in July 2023. While this expanding inventory grants buyers more options, the downward trends in new listings and sale-to-list ratios indicate sellers may need to adjust expectations.
Overall, Encanterra shows signs of still being a balanced market, with steady buyer interest and sufficient inventory. However, sellers should analyze competition and pricing carefully, as buyers may have more negotiation power. Stay tuned next month as we continue monitoring the market changes in Encanterra.
See the market report details in the slides below. All data directly from the MLS.
