Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board were down on a year-over-year basis in January 2017.
Home sales numbered 51 units in January 2017, a decline of 12.1 percent from January 2016. That said, it was just two sales shy of the five-year average for January.
The average price of homes sold in January 2017 was $220,173, rising nine percent from January 2016.
There were 152 new residential listings in January 2017, a year-over-year decrease of 26.2 perent.
Supply continues to trend down. Active residential listings on the board’s MLS® System numbered 655 units at the end of January, down 17 percent from January 2016.
There were 12.8 months of inventory at the end of January 2017. This was down from 13.6 months at the end of January 2016 and stood above 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 $11.2 million in January, down 4.2 percent from January 2016.
Sales of all types of properties numbered 56 units, down 21.1 percent from January 2016. The total value of all property sales was $11.6 million in January 2017, down 12.6 percent from levels recorded in January 2016.
