Home sales stable in September
Residential property sales recorded through the MLS® System of the Parry Sound & Area Association of REALTORS® held steady on a seasonally adjusted basis from August to September 2012, but came in slightly below levels reported last September.
Home sales numbered 42 units in September 2012. This was a nine per cent (four sales) decline from September 2011. On a month-over-month basis, seasonally adjusted sales edged up one per cent compared to August.
A total of 354 homes have traded hands so far this year. This remains four per cent above activity recorded over the first nine months of 2011, and stands above the same period in all other years back to 2007.
“While resale housing demand in the region was little changed in September following a bit of a slowdown in August, there was a considerable drop in the number of new listings,” said Kelly Purcell, President of the Parry Sound & Area Association of REALTORS®. “As a result, the sales-to-new listing ratio to rose to the highest level since late 2010, and we saw a considerable jump in the average selling price.”
The average price of homes sold in September 2012 was $325,002. This was a 17 per cent increase from the same month last year.
New residential listings numbered 76 units in September 2012, a 31 per cent drop from the same month in 2011.
There were 597 active residential listings on the Association’s MLS® System at the end of September 2012, down three per cent from the same time a year earlier.
There were 14.2 months of inventory at the end of September 2012. This was up from 13.3 months recorded at the end of September 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.