Home sales vol­ume on the up­swing

The Glengarry News - - Classifieds -

The vol­ume of home sales in the area rose in Oc­to­ber, re­ports the Corn­wall and District Real Es­tate Board. Some 115 units were sold last month, nine more than in Oc­to­ber 2017. On a year-to-date ba­sis, home sales to­talled 1,168 units over the first ten months of the year. This was down 4.6% from the same pe­riod in 2017. “Ac­tiv­ity strength­ened in Oc­to­ber, with sales ris­ing to the high­est level for that month since 2015,” said board pres­i­dent D.A. MacMil­lan. “Mean­while, with in­ven­to­ries at the low­est level since 1989, the av­er­age home price is on track for a gain of about 6 per cent this year.”

The av­er­age price of homes sold in Oc­to­ber 2018 was $227,650, jump­ing 21.4 per cent from Oc­to­ber 2017. The more com­pre­hen­sive year-to­date av­er­age price was $219,409, up 5.8 per cent from the first 10 months of 2017.

There were 153 new res­i­den­tial list­ings in Oc­to­ber 2018. This edged down 1.3% (two list­ings) on a year-over-year ba­sis and was the low­est Oc­to­ber new sup­ply read­ing since 1993.

Ac­tive res­i­den­tial list­ings num­bered 525 units at the end of Oc­to­ber. This was a de­crease of 12.6% from the end of Oc­to­ber 2017 and was the low­est in­ven­tory read­ing for this time of year since 1989.

The dol­lar value of all home sales in Oc­to­ber 2018 was $26.2 mil­lion, jump­ing 31.7% from the same month in 2017. This was a new record for the month. The Corn­wall and District Real Es­tate Board cov­ers a large area, in­clud­ing Glen­garry, Stor­mont, Prescott, Corn­wall and part of Dun­das.

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