Slow real es­tate mar­ket

The Glengarry News - - The Opinion Page -

The re­gional real es­tate mar­ket has been slug­gish with sales vol­umes hit­ting an 18-year low, how­ever, the av­er­age price of homes sold has in­creased.

Res­i­den­tial sales in the area served by the Corn­wall and Dis­trict Real Es­tate Board to­taled 109 units in Septem­ber, a de­crease of 14.2 per cent from Au­gust of 2017.

In the first nine months of the year, home sales to­talled 1,054 units, a drop of 5.7 per cent from the same pe­riod in 2017, mark­ing the slow­est start to any year since 2000.

“A lot of the ups and downs in sales ac­tiv­ity on a year-over-year ba­sis in re­cent months have re­ally just been a retelling of how volatile ac­tiv­ity was last year,” said D.A. MacMil­lan, Pres­i­dent of the Corn­wall Real Es­tate Board.

“Sales have been stead­ier this year, although the Septem­ber sales fig­ure was on the low side for that month.”

The av­er­age price of homes sold in Septem­ber 2018 was $213,012. edg­ing up 2.1 per cent from Septem­ber 2017.

The more com­pre­hen­sive year-to-date av­er­age price was $218,530, up 4.4 per cent from the first nine months of 2017.

There were 185 new res­i­den­tial list­ings in Septem­ber 2018, up 3.4 per cent on a year-over-year ba­sis. Yet, new sup­ply in Septem­ber was still below the same month in ev­ery other year go­ing back to the year 2003.

Ac­tive res­i­den­tial list­ings num­bered 570 units at the end of Septem­ber. This was a de­crease of 10.1% from the end of Septem­ber 2017 and was the low­est in­ven­tory read­ing on record for this time of year.

The dol­lar value of all home sales in Septem­ber 2018 was $23.2 mil­lion, de­creas­ing by 12.4% from the same month in 2017.

The real es­tate board serves an area that en­com­passes Glen­garry, Stor­mont, Prescott, Corn­wall and part of Dun­das.


WECYCLING: “Good rid­dance -- stuff we don't need,” said Alexan­dria's Phil Mé­nard with a chuckle drop­ping off an old TV at Lag­gan School’s waste elec­tron­ics pick-up Satur­day. With him, from left, are vol­un­teers Jack Suter from McCrim­mon Cor­ners, Ro­nan and Cal­lum Nys­trom from Glen Sand­field who were among the stu­dents who braved the driz­zly weather to fill a con­tainer with junk. Over­see­ing the stu­dents and lift­ing the big stuff was par­ent vol­un­teer Mark Lavye from Alexan­dria whose daugh­ter Piper is in 2nd Grade at Lag­gan.

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