The second quarter of 2023 has come and gone. Let’s take a look and see how it compares to the first quarter of this year and the second quarter of 2022.
Property sales in Powell River BC compared to last year and the first quarter of 2023
The average sold price from April to June 2023 was $654,759 which is over a $100,000 decrease compared to 2022 which was $762,506. The second quarter of 2022 had 224 listings processed and 153 gross sales. This year, there were 244 listings processed and 119 gross sales. Sales have gone down compared to last year and they didn’t sell as quickly as we can see below.
The second quarter of 2022 The first quarter of 2023
Properties sold in 1 week: 16 Properties sold in 1 week: 4
Properties sold in 2 weeks: 26 Properties sold in 2 weeks: 2
Properties sold in 3 weeks: 16 Properties sold in 3 weeks: 7
Properties sold in 4 weeks: 21 Properties sold in 4 weeks: 8
The second quarter of 2023
Properties sold in 1 week: 4
Properties sold in 2 weeks: 12
Properties sold in 3 weeks: 15
Properties sold in 4 weeks: 17
Interest rates according to the Bank of Canada
Let’s take a look at how the interest rates have changed compared to the second quarter of 2022 and the first quarter of 2023.
April 2022: 0.50 January 2023: 4.25 April 2023: 4.50
May 2022: 1.00 February 2023: 4.50 May 2023: 4.50
June 2022: 1.50 March 2023: 4.50 June 2023: 4.75
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