Residential
sales activity in the area served by the Cornwall and District
Real Estate Board came in above year-ago levels in April 2012,
and were also up from levels in the past four
months.
According
to statistics provided by the Board, home sales numbered 155
units in April. This was an increase of 18 per cent compared
to the same month a year earlier.
“Demand
picked back up again last month following a quiet March, with
the April sales figure standing above both the five- and
10-year averages for the month,” said Lana Barnes, President
of the Cornwall Real Estate Board. “The increase in demand and
tighter market also led to led to acceleration in
prices.”
The
average price of homes sold in April 2012 was $180,240, an
increase of 15 per cent from the same month in 2011. This was
the highest average price ever reported.
New
residential listings numbered 260 units in April 2012, down
five per cent from a year earlier. There were 785 active
residential listings on the Board’s MLS® System at the end of
April, up three per cent from year-ago
levels.
There
were 5.7 months of inventory at the end of April on a
seasonally adjusted basis, down from 6.7 months reported at
the end of March. 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 dollar value of homes sold through the
Board’s MLS® System in April 2012 was $27.9 million. This was
an increase of 36 per cent from a year earlier.
