Sault Ste. Marie MLS® home sales set new record for the month of August, marks first time August sales have ever surpassed 200
The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 211 units in August 2021. This was an increase of 11.1% from August 2020 and was also a new sales record for the month of August.
Home sales were 12.7% above the five-year average and 24.3% above the 10-year average for the month of August.
On a year-to-date basis, home sales totaled a record 1,743 units over the first eight months of the year. Rising by 56.5% from the same period in 2020.
The average price of homes sold in August 2021 was $268,018, increasing by 17.2% from August 2020.
The more comprehensive year-to-date average price was $264,274, an advance of 30% from the first eight months of 2020.
The dollar value of all home sales in August 2021 was $56.6 million, up sharply by 30.1% from the same month in 2020. This was also a new record for the month of August.
The number of new listings saw a decrease of 9.8% from August 2020. There were 230 new residential listings in August 2021. This was the lowest number of new listings added in the month of August in more than a decade.
New listings were 10.9% below the five-year average and 13% below the 10-year average for the month of August.
Active residential listings numbered 255 units on the market at the end of August, a large decline of 36.4% from the end of August 2020. Active listings haven't been this low in the month of August in more than three decades.
Active listings were 60.9% below the five-year average and 70.3% below the 10-year average for the month of August.
Months of inventory numbered 1.2 at the end of August 2021, down from the 2.1 months recorded at the end of August 2020 and below the long-run average of 5.3 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