Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board was down on a year-over-year basis in December 2017.
Home sales numbered 57 units in December 2017, falling 10.9 percent (seven sales) from December 2016 to stand in between the five and 10-year averages for the month.
On an annual basis, home sales totaled 1,432 units over 2017. This stood 2.7 percent above 2016 and above all other years going back to 2012.
The average price of homes sold in December 2017 was $229,825, jumping 23.6 percent from December 2016.
The less volatile and more comprehensive annual average price in 2017 was $231,625, up 3.2 percent from 2016.
There were 70 new residential listings in December 2017, a year-over-year decrease of 19.5 percent.
Overall supply is running at multi-year lows. Active residential listings on the board’s MLS® System numbered 523 units at the end of December, down 17.5% from December 2016.
There were 9.2 months of inventory at the end of December 2017. This was down from 9.9 months at the end of December 2016 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 $13.1 million in December, rising 10.1percent from December 2016.
Sales of all types of properties numbered 62 units, down 13.9 percent from December 2016. The total value of all property sales was $14 million in December 2017, up 8.7 percent from levels recorded in December 2016.
