Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board were up on a year-over-year basis in June 2017.
Home sales numbered 187 units in June 2017, an increase of 7.5% from June 2016 and above the five and 10-year average for the month. This was also the best June since 2009.
On a year-to-date basis, home sales totaled 769 units over the first half of 2017, 3.6% above the first half of 2016 and above all other years back to 2012.
The average price of homes sold in June 2017 was $238,406, an increase of 5% from June 2016.
The less volatile year-to-date average price in June was $242,386, up 6.3% from the first half of 2016.
There were 260 new residential listings in June 2017, a year-over-year decrease of 10.3%.
Supply remains well below year-ago levels. Active residential listings on the board’s MLS® System numbered 970 units at the end of June, down 17.4% from June 2016.
There were 5.2 months of inventory at the end of June 2017. This was down from 6.8 months at the end of June 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 $44.6 million in June, up 12.9% from June 2016.
Sales of all types of properties numbered 204 units, rising 6.8% from June 2016. The total value of all property sales was $46 million in June 2017, up 7% from levels recorded in June 2016.
