The
number of homes sold through the MLS® System of the Parry
Sound Real Estate Board posted a large year-over-year gain in
January 2010. The average price of those sales was also up
strongly from one year ago, setting a new record for the
month.
January
is almost always one of the slowest months of the year for
home sales, and this year is no exception. However, activity
in the first month of 2010 stood above January sales in most
other years on record.
According
to statistics provided by the Board, home sales activity
numbered 13 units in January 2010, a gain of 44 per cent from
the same month last year. Activity in the month of January has
surpassed this level just three times in the past 30
years.
“The
difference in the resale housing market now, compared to one
year ago, is night and day,” said
Shirlene
Johnston, President of the Parry
Sound Real Estate Board.
“It
was a good start to the new year, with sales, prices, and new
listings all recording double digit gains in
January.”
The
total dollar value of home sales in January 2010 was $3.6
million, a jump of 83 per cent from levels reported in January
2009.
The residential average price of homes sold through
the MLS® System of the Parry Sound Real Estate Board was
$274,962 in January 2010. This is the highest level on record
for the average home price in the month of January, up 27 per
cent from the same month last year.
The
number of new residential listings on the Board’s MLS® System
rose 24 per cent on a year-over-year basis to 57 units in
January.
Despite
the uptick in new listings, active residential listings
continue to trend downwards from last year’s elevated levels,
and this is helping to stabilize the marketplace. There were
293 active residential listings on the Board’s MLS® System at
the end of January 2010, down 16 per cent from 12 months
ago.
There
were 22.5 months of inventory at the end of January 2010.
While this sounds high, it is important to remember that an
increase is normal at this time of year since demand normally
eases relative to supply over autumn and winter months. Last
year at this time there were 38.6 months of
inventory.
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 Parry Sound Real Estate Board is
committed to a high standard of business practice, strong
business ethics, and continuing education development that
assists REALTORS® in effectively serving the reawl estate
needs of the community. With over 100 Members, its REALTORS®
service a large geographical area, extending from the French
River to the north, southerly to Go Home Lake Road, easterly
to the Highway 11 corridor and westerly which includes the
shores of Georgian
Bay.
