Residential sales activity recorded through the
MLS® System of the Southern Georgian Bay Real Estate
Association posted a considerable year-over-year gain in April
2012.
According to statistics provided by the
Association, home sales numbered 90 units in April, up 41 per
cent from April 2011.
A total of 256 homes have traded hands so far this
year. That’s running 35 per cent ahead of levels reported in
the first four months of 2011.
“Demand remained healthy last month, with sales
right in line with the five year average for activity in the
month of April,” said Rob Heming, President of the Southern
Georgian Bay Real Estate Association. “The large
year-over-year increase in activity could give the impression
that the market is hotter than it actually is, but it’s
important to recognize that the increase was almost entirely a
reflection of a quiet month of April last year following the
introduction of new mortgage rules.”
The average price of homes sold in April 2012 was
$231,076, a decline of 12 per cent compared to April
2011.
The total value of home sales was $20.7 million in
April 2012, rising 23 per cent from the same month a year
earlier. The total value of all types of property sales was
$24 million in April 2012, a 31 per cent increase from the
previous April.
New residential listings totalled 232 units, down
four per cent from April 2011. There were 828 active
residential listings on the Association’s MLS® System at the
end of April, down six per cent from the same time a year
earlier.
There were 10.6 months of inventory at the end of
April 2012 on a seasonally adjusted basis. This was up
slightly from 10.2 months 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
.
