Residential sales activity recorded through the MLS* �Â�® System of the Renfrew County Real Estate Board was up on a year-over-year basis in January 2018.
Home sales numbered 62 units in January 2018, rising 17 percent from January 2017 and a 3-year high for the month. January 2017 sales also stood in between the five and 10-year averages for the month.
The average price of homes sold in January 2018 was $209,822, a decline of 7.2 percent from January 2017.
There were 177 new residential listings in January 2018, a year-over-year increase of 12.7 percent.
Even so, overall supply is running at multi-year lows. Active residential listings on the board’s MLS* �Â�® System numbered 567 units at the end of January, down 13.4 percent from January 2017.
There were 9.1 months of inventory at the end of January 2018. This was down from 12.4 months at the end of January 2017 and stood 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 $13 million in January, rising 8.5 percent from January 2017.
Sales of all types of properties numbered 73 units, rising 25.9 percent from January 2017. The total value of all property sales was $15.6 million in January 2018, up 26.2 percent from levels recorded in January 2017.
