Another record setting month for MLS® market activity in Sault Ste. Marie
The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 240 units in March 2021. This was more than double the levels from a year earlier, surging 108.7% from March 2020. This was also a new sales record for the month of March and was the highest level for any month in history.
On a year-to-date basis, home sales totaled a record 536 units over the first three months of the year. This was a substantial increase of 77.5% from the same period in 2020.
The average price of homes sold in March 2021 was a record $257,955, a sizable gain of 24.3% from March 2020.
The more comprehensive year-to-date average price was $237,446, increasing by 23.5% from the first three months of 2020.
The dollar value of all home sales in March 2021 was $61.9 million, more than double the levels from a year earlier, leaping 159.5% from the same month in 2020. This was a new record for the month of March and was also the largest dollar value of homes sold for any month in history.
The number of new listings was up sharply by 79.4% from March 2020. There were 278 new residential listings in March 2021. This was also the largest number of new listings added in the month of March in history.
Active residential listings numbered 165 units on the market at the end of March, a significant decline of 56% from the end of March 2020. Active listings haven't been this low in the month of March in more than three decades.
Months of inventory numbered 0.7 at the end of March 2021, down from the 3.3 months recorded at the end of March 2020 and below the long-run average of 5.8 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 Sault Ste. Marie Real Estate Board aspires to be a recognized leader in developing and providing affordable and high quality support services to its membership, staff and to our community in a responsible and caring manner. The Sault Ste. Marie Real Estate Board hosts the Multiple Listing Service® (MLS®) and represents local REALTORS®. The board serves Sault Ste. Marie and the Algoma District including north to Wawa and east to Elliot Lake.
SAULT STE. MARIE REAL ESTATE BOARD
372 Albert Street East
Sault Ste. Marie, ON
Office: (705) 949-4560
Fax: (705) 949-5935