Bancroft and Area MLS® home sales remain well above average in June
The number of homes sold through the MLS® System of the Bancroft and Area totaled 59 units in June 2021. This was a moderate decrease of 6.3% (four sales) from June 2020 but still marked the fourth best June on record.
Home sales were 17.5% above the five-year average and 22.9% above the 10-year average for the month of June.
On a year-to-date basis, home sales totaled a record 296 units over the first six months of the year. This was a substantial gain of 68.2% from the same period in 2020.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $461,900 in June 2021, a substantial gain of 64.2% compared to June 2020.
The average price of homes sold in June 2021 was a record $594,071, an advance of 72% from June 2020.
The more comprehensive year-to-date average price was $547,597, up sharply by 62.8% from the first six months of 2020.
The dollar value of all home sales in June 2021 was $35.1 million, a substantial increase of 61.1% from the same month in 2020. This was also a new record for the month of June.
The number of new listings saw a sizable gain of 13.3% (10 listings) from June 2020. There were 85 new residential listings in June 2021.
New listings were 7% below the five-year average and 9% below the 10-year average for the month of June.
Active residential listings numbered 89 units on the market at the end of June, decreasing by 4.3% (four listings) from the end of June 2020. Active listings haven't been this low in the month of June in more than three decades.
Active listings were 39.9% below the five-year average and 66.8% below the 10-year average for the month of June.
Months of inventory numbered 1.5 at the end of June 2021, unchanged from the 1.5 months recorded at the end of June 2020 and below the long-run average of 6.1 months for this time of 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.
Bancroft is a picturesque community in the heart of North Hastings on the Canadian Shield, strategically located equal distance 3 hours northeast of Toronto and 3 hours west of Ottawa, 1 1/2 hours north of Belleville and 1 1/2 hours northeast of Peterborough. Listings can also be viewed on the national www.REALTOR.ca web site (residential properties, commercial and investment properties).