Sales activity rebounds in March
Residential property sales recorded through the MLS® System of the Parry Sound Real Estate Board posted the second best month of March on record in 2011.
Home sales numbered 31 units in March, rising 41 per cent on a year-over-year basis. Seasonally adjusted home sales activity rebounded 34 per cent month-over-month after falling more than 40 per cent in February from a very strong January.
On a year-to-date basis, sales activity jumped 60 per cent from levels in the first quarter of 2010, and stood at the highest level on record for the first quarter period.
“We’ve seen more sales in the first three months this year than in the same period in any other year in the Board’s history,” said Darrin O’Brien, President of the Parry Sound Real Estate Board. “We’re certainly looking a very healthy market heading into the busiest time of the year.”
New residential listings on the Board’s MLS® System numbered 230 units in March, down four per cent from year-ago levels. Active residential listings numbered 502 units at the end of March 2011, down 11 per cent from a year earlier.
There were 4.2 months of inventory at the end of March on a seasonally adjusted basis, down from 4.7 months in February 2011. 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.
The Parry Sound Real Estate Board is committed to a high standard of business practice, strong business ethics, and continuing education development that assists REALTORS® in effectively serving the real estate needs of the community. With approximately 100 Members, its REALTORS® service a large geographical area, extending from the French River to the north, southerly to Go Home Lake Road, easterly to the Highway 11 corridor, and westerly which includes the shores of Georgian Bay.