Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board was up slightly on a year-over-year basis in August 2017.
Home sales numbered 145 units in August 2017, an increase of 2.8% from August 2016. This represents the best August sales figure in eight years and the third best ever.
On a year-to-date basis, home sales totaled 1,050 units over the first eight months of 2017 This stood 3.6% above the first eight months of 2016, and also above all other years going back to 2012.
The average price of homes sold in August 2017 was $226,665, a small decline of just 0.6% from August 2016.
The less volatile and more comprehensive year-to-date average price in August was $236,854, up 4.3% from the first eight months of 2016.
There were 217 new residential listings in August 2017, a year-over-year decline of 17.3%.
Overall supply is now running at multi-year lows. Active residential listings on the board’s MLS® System numbered 906 units at the end of August, down 13.1% from August 2016.
There were 6.2 months of inventory at the end of August 2017. This was down from 7.4 months at the end of August 2016 and below the long-run average for this time of the year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The total value of all residential sales amounted to $32.9 million in August, edging up 2.2% from August 2016.
Sales of all types of properties numbered 163 units, rising 1.9% from August 2016. The total value of all property sales was $304.1 million in August 2017, down 2.8% from levels recorded in August 2016.
