Home sales rebound in June
Residential property sales recorded through the MLS® System of the Parry Sound Real Estate Board came in well above year-ago levels in June 2011.
Home sales numbered 65 units in June, an increase of 14 per cent compared to the same month in 2010. This was the third highest level ever for activity in the month of June, and the fifth highest level of any month on record.
“Demand came in much stronger than expected in June, particularly given the soft sales figures we saw in May,” said Darrin O’Brien, President of the Parry Sound Real Estate Board. “When you look at how sales in June stack up against history, we were actually just 2 sales off the all-time record for the month set back in 2004.”
The average price of homes sold in June 2011 was $288,642, an increase of five per cent from June 2010.
New residential listings on the Board’s MLS® System numbered 150 units in June, edging up two per cent from year-ago levels. Active residential listings numbered 662 units at the end of June 2011, down six per cent from a year earlier.
There were 4.7 months of inventory at the end of June on a seasonally adjusted basis, down from 5.1 months in May 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.