Residential sales activity recorded through the MLS® System of the Renfrew County Real Estate Board were up on a year-over-year basis in March 2017.
Home sales numbered 112 units in March 2017, an increase of 31.8% from March 2016. This was the best month of March for sales since 2012.
On a year-to-date basis home sales totaled 245 units over the first quarter of 2017, above all other first quarters back to 2012.
The average price of homes sold in March 2017 was $240,445, an increase of 10.9% from March 2016.
The less volatile year-to-date average price in March was $218,648, up 1.6% from the first three months of 2016.
There were 326 new residential listings in March 2017, a year-over-year increase of 1.9%.
Supply remains below year-ago levels. Active residential listings on the board’s MLS® System numbered 844 units at the end of March, down 14.8% from March 2016.
There were 7.5 months of inventory at the end of March 2017. This was down from 11.7 months at the end of March 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 $26.9 million in March, up 46.2% from March 2016.
Sales of all types of properties numbered 122 units, rising 34.1% from March 2016. The total value of all property sales was $29 million in March 2017, up 47.3% from levels recorded in March 2016.
