Rideau-St. Lawrence Real Estate Board MLS® home sales continue to outpace growth in listings as prices reach new highs in March
The number of homes sold through the MLS® System of the Rideau-St. Lawrence Real Estate Board totaled 121 units in March 2021. This was a substantial gain of 42.4% from March 2020. Residential sales haven't hit this level in the month of March since the all-time record set in 2006.
On a year-to-date basis, home sales totaled 247 units over the first three months of the year. This was a gain of 28.6% from the same period in 2020.
The average price of homes sold in March 2021 was a record $476,484, up sharply by 53.9% from March 2020.
The more comprehensive year-to-date average price was $439,078, a substantial increase of 50.5% from the first three months of 2020.
The dollar value of all home sales in March 2021 was $57.7 million, more than double the levels from a year earlier, leaping 119.1% from the same month in 2020. This was also a new record for the month of March.
The number of new listings saw a substantial gain of 79.2% from March 2020. There were 190 new residential listings in March 2021. This was the largest number of new listings added in the month of March in five years.
Active residential listings numbered 116 units on the market at the end of March, a sharp decrease of 40.5% from the end of March 2020. Active listings haven't been this low in the month of March in more than two decades.
Months of inventory numbered 1 at the end of March 2021, down from the 2.3 months recorded at the end of March 2020 and below the long-run average of 5.9 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.
Board & Association Information
The Rideau-St. Lawrence Real Estate Board was incorporated in January 1954 to provide an information exchange service for Members. That exchange service has evolved into today's modern MLS® system (Multiple Listing Service®), one of the most effective real estate marketing systems in North America. The national website is www.REALTOR.ca. The Rideau-St. Lawrence Real Estate Board covers a large geographic area that includes the United Counties of Leeds & Grenville, Lanark and part of Dundas County in Eastern Ontario.
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