Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board was up on a year-over-year basis in September 2017.
Home sales numbered 124 units in September 2017, an increase of 6.9% from September 2016. This represents the best September sales figure since 2011.
On a year-to-date basis, home sales totaled 1,173 units over the first three quarters of 2017. This stood 3.8% above the same period in 2016 and above all other years going back to 2012.
The average price of homes sold in September 2017 was $233,721, an increase of 7.1% from September 2016.
The less volatile and more comprehensive year-to-date average price in September was $236,214, up 4.4% from the first three quarters of 2016.
There were 179 new residential listings in September 2017, a year-over-year decline of 3.2%.
Overall supply is now running at multi-year lows. Active residential listings on the board’s MLS® System numbered 840 units at the end of September, down 13.2% from September 2016.
There were 6.8 months of inventory at the end of September 2017. This was down from 8.3 months at the end of September 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 $29 million in September, rising 14.5% from September 2016. This was the highest September on record.
