March 2021 was a record-breaking month for MLS® market activity in Sudbury
The number of homes sold through the MLS® System of the Sudbury Real Estate Board totaled 324 units in March 2021. This was a jump of 84.1% from March 2020 and was a new sales record for the month of March.
On a year-to-date basis, home sales totaled a record 672 units over the first three months of the year. This was a significant gain of 53.4% from the same period in 2020.
The average price of homes sold in March 2021 was a record $385,034, a gain of 20.4% from March 2020.
The more comprehensive year-to-date average price was $375,067, up by 29% from the first three months of 2020.
The dollar value of all home sales in March 2021 was $124.8 million, more than double the levels from a year earlier, surging 121.6% 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 advanced by 57% from March 2020. There were 402 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 189 units on the market at the end of March, a substantial reduction of 60.5% from the end of March 2020. Although, active listings haven't been this low in the month of March in more than three decades, overall inventory appears to be trying to form a bottom.
Months of inventory numbered 0.6 at the end of March 2021, down from the 2.7 months recorded at the end of March 2020 and below the long-run average of 5.1 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.
BOARD & ASSOCIATION INFORMATION
The Sudbury Real Estate Board represents approximately 375 REALTORS® registered with its member offices in the Greater Sudbury area. The Board – which was created in 1950 – hosts the Multiple Listing Service® (MLS®), provides educational courses, and ensures that members strive to meet uncompromising standards in their service to consumers.
SUDBURY REAL ESTATE BOARD