Annual Report on the Quail Ridge Real Estate Market 2015

Hi All, Here is our Annual Report on the Quail Ridge Real Estate Market for 2015. It shows how each sector of the market performed and a breakdown of the various Condo Complexes in the neighbourhood. Quail Ridge Real Estate Sales Key Numbers Year Total…

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Hi All,

Here is our Annual Report on the Quail Ridge Real Estate Market for 2015.

It shows how each sector of the market performed and a breakdown of the various Condo Complexes in the neighbourhood.

Quail Ridge Real Estate Sales Key Numbers

Trish&Tanis_Logo_WEB_IconOnly Year Total Single Family Homes Condos Town Homes Lots
Total Sales 2013 48 28 12  5 3
2014 80 37 29 11 3
2015 84 24 49  9 2
Average Days on Market
2013 108 127  75 167
2014    83  127  141  250
2015  77  99  89 219
Closing Price to Original List
2013 94.6% 92.6% 96.5% 95.8%
2014 96.3% 95.8% 94.2% 98%
2015 96.8% 96.1% 94.6% 89.3%

Overall Sales were up by 5%, with Single Family Homes sales down 35%, more due to there being less inventory than properties not selling. Condo sales were up 55%, but these figures are higher than normal as they include sales in the new complexes Academy Hill, U One and U Two.

Across the board, properties sold quicker than in previous years, and sales were slightly closer to the list price.

In late 2015 and into 2016, properties were selling much quicker and nearer to list price, hence correct pricing remains essential.

Sales of Single Family Homes by in Quail Ridge 2009 to 2015 Month by Month.

Date 2009 2010 2011 2012 2013 2014 2015
Jan 1 3 1 2 2
Feb 1 3 2 3 2
Mar 3 4 3 2 2 3
Apr 1 4 1 3 2 1 2
May 1 4 4 4 2 7 1
Jun 5 1 2 4 5 7 7
Jul 1 3 2 1 4 3
Aug 2 2 3 5 4
Sep 3 5 1 1 3 2 1
Oct 7 3 3 1 5 3
Nov 2 2 1 1 4 2
Dec 1 1 1 1 1

Peak time for sales of Single Family Homes, in 2015, continued to be in June, and there were no sales in December January and February.

Detailed Analysis of Quail Ridge & University Area 2/3 Bedroom Condos

Trish&Tanis_Logo_WEB_IconOnly Total Sales Days on Market Ave Price per Sq Ft Median Sale Price
3168 / 3178 Via Centrale 15 97 $229 $266,000
 1873 / 1875 Country Club  14 105 $246 $292,000
1795 Country Club Dr  4  37 $224 $303,750
Academy Hill / U One / U Two  6 147 $375 $364,950

Notes regarding the above numbers.

The Pointe at Quail – 3168 / 3178 Via Centrale.

Built 2004 /2005. Rentals Minimum Monthly.

Typically the units were sold unfurnished, resulting in lower average sale prices than in other complexes. Adjusting for sales significantly longer than average, the actual average days on market was nearer to 78 days.

Summary of 2015 Sales.

Priced between $239,900 and $369,900 Selling Price between $225,000 and $360,950 925 to 1585 Square Feet 2.0 Bathrooms 2 Bedrooms $192 to $271 per Square Foot.15 to 354 Days on Market

Pinnacle Pointe – 1873 / 1875 Country Club Drive.

Built 2008. Short & Long Term Rentals Allowed. Of the 14 sales, 9 were 2 bedroom and den units, as Buyers were looking to drive extra income by converting the den into a 3rd bedroom. Units were typically sold furnished, which made the average sale price higher.Adjusting for the significantly longer than average sales, average days on the market was 75 days.

Summary of 2015 Sales.

Priced between $259,900 and $319,900 Selling Price between $255,000 and $307,500 970 to 1298 Square Feet 2.0 Bathrooms 2 to 3 Bedrooms $224 to $278 per Square Foot 11 to 292 Days on Market

Bella Sera 1795 Country Club Drive. Built 2005. Rentals Minimum Monthly. Only 1 was not sold fully furnished.

Summary of Sales 2015.

Priced between $319,900 and $339,900 Selling Price between $301,750 and $310,000 1327 to 1386 Square Feet 3.0 Bathrooms 2 Bedrooms $220 to $228 per Square Foot 9 to 56 Days on Market

Academy Hill, U One & U Two Built 2013-2016. Short & Long Term Rentals Allowed.

Sales of brand new units.Only a limited number were sold on the MLS® System. Not clear how many were sold with Furniture Packages.

Summary of 2015 Sales.

Priced between $319,900 and $395,000 Selling Price between $319,900 and $389,900 853 to 1136 Square Feet 2.0 to 3.0 Bathrooms 2 to 3 Bedrooms $339 to $434 per Square Foot 52 to 249 Days on Market.

Trish and Tanis – Your Connection to Quail Ridge & University Area Real Estate

Trish and Tanis have been selling Real Estate in the Quail Ridge & University area for over 10 years. During that time they have established themselves as recognised ‘experts’, having been top producing Real Estate Agents of homes & condos bought and sold on the MLS® system, in the area, since 2013.

Keep in touch

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If you have any specific questions about this report or would like assistance in purchasing or selling a property in the Quail Ridge Area, we’re only a call or click away!

Contact Trish and Tanis

Kind Regards

Trish and Tanis

Tel 250 863 8989



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Trish & Tanis
studio@hiilite.com
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