Sudbury Real Estate Board

Sudbury MLS® home sales remain strong in August

The number of homes sold through the MLS® System of the Sudbury Real Estate Board totaled 275 units in August 2021 decreasing of 10.7% from August 2020.

Home sales were 0.2% below the five-year average and 9.8% above the 10-year average for the month of August.

On a year-to-date basis, home sales totaled a record 2,269 units over the first eight months of the year. This was a gain of 28% from the same period in 2020.

The average price of homes sold in August 2021 was $382,075, increasing by 18.6% from August 2020.

The more comprehensive year-to-date average price was $388,962, advancing 27.8% from the first eight months of 2020.

The dollar value of all home sales in August 2021 was $105.1 million, up by 5.9% 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 9.9% from August 2020. There were 308 new residential listings in August 2021. This was the lowest number of new listings added in the month of August in more than 15 years.

New listings were 14.5% below the five-year average and 20.8% below the 10-year average for the month of August.

Active residential listings numbered 321 units on the market at the end of August, declining of 23% 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 62.5% below the five-year average and 73.5% 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 1.4 months recorded at the end of August 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 400 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.


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SUDBURY REAL ESTATE BOARD

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For more information,
please contact:
(705) 673-3388
sreb@vianet.ca

President
Tyler Peroni