RResidential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board were up on a year-over-year basis in December 2016.
Home sales numbered 62 units in December 2016, rising 3.3 percent from December 2015. This has been the best December since 2011 – standing above both the five and 10-year averages for the month.
On an annual basis, sales numbered 1,399 in 2016. This stood eight percent above of 2015, and came in ahead of 2013 and 2014 as well.
The average price of homes sold through the Board’s MLS® System in December 2016 was $187,410, falling 9.7 percent from December 2015. The the more representative annual average price for 2016 was $224,764, unchanged from 2015.
There were 88 new residential listings in December 2016, a year-over-year decrease of 7.4 percent.
Active, residential listings on the Board’s MLS® System numbered 610 units at the end of December, down 15.9 percent from December 2015. That said, while overall supply had trended down sharply over the first half of the year, it has stabilized in recent months.
There were 9.8 months of inventory at the end of December 2016. This was down from 12.1 months at the end of December 2015 and stood right on par with 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 $11.6 million in December, down 6.7 percent from December 2015.
Sales of all types of properties numbered 69 units, up 6.2 percent from December 2015. The total value of all property sales was $12.3 million in December 2016, down 2.8 percent from levels recorded in December 2015.
