• Home
  • Site Map
  • News
Invest in Norfolk County
Norfolk County Economic Development
Contact | 800-699-9038
  • Text Size A A A
  • Toggle Contrast:
    Twitter
    Visit Us
    Follow Me
    Tweet
    Facebook
    Facebook
    fb-share-icon
    Instagram
    Pinterest
    Pinterest
    Pin Share
    YouTube
    YouTube
    Trip Advisor
    • Advantages
      of Norfolk
      • Infrastructure
      • Location
      • Pride & Innovation
      • Quality of Life
      • Vision
    • Stats &
      Demographics
      • Our Economy
      • Communities
      • Farm Data
    • Key
      Industries
      • Agriculture
      • Manufacturing
      • Tourism
    • Properties
      & Process
      • Industrial Parkland
      • Properties Available
      • Surplus Properties
      • Maps
      • Development Process
      • Green Light Team
    • Incentives
      & Supports
      • Business Incentive Grants
      • Entrepreneur of the Year
      • Expand & Relocate
      • Film Liaison Office
      • Start and Operate Alternative Accommodation
      • Student Start Up Program
      • Other Governments
    • Workshops
      & Events
      • Workshops
    • Request
      a Meeting
    • About Us
      & News
      • Contact Us
      • Awards
      • News
      • Strategy Review

    Home sales edge higher year-over-year in August; inventories still near all-time lows

    September 26, 2018
    Simcoe Real Estate Board

    Residential sales activity recorded through the MLS® System of the Simcoe & District Real Estate Board totaled 84 units in August 2018. This was up 3.7% (three sales) from August 2017.

    On a year-to-date basis, home sales totalled 529 units over the first eight months of the year. This was down 21.7% from the same period in 2017.

    “While home sales are still running at below-average levels, they have improved this summer compared to earlier in the year, which is in line with what is happening in many other markets in this part of the country,” said Paul Van Londersele, President of the Simcoe & District Real Estate Board. “The region is still facing a historic shortage of listings, which has kept upward pressure on prices despite more subdued demand this year.”

    The average price of homes sold in August 2018 was $387,634, rising 11.9% from August 2017.

    The more comprehensive year-to-date average price was $372,109, up 8% from the first eight months of 2017.

    The dollar value of all home sales in August 2018 was $32.6 million, up 16.1% from the same month in 2017.

    There were 99 new residential listings in August 2018, down 3.9% (four listings) on a year-over-year basis. It was the lowest August level in 15 years.

    Overall supply is running at some of the lowest levels on record for this time of the year. Active residential listings numbered 196 units at the end of August. This was up 7.7% (14 listings) from the end of August 2017 but remained well below the same time from every other year on record.

    Months of inventory numbered 2.3 at the end of August 2018, up slightly from the 2.2 months recorded at the end of August 2017 but well below the long-run average of 7.3 months for this time of year. 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 Simcoe & District Real Estate Board was established in 1959 and covers a very diverse and extensive region. Simcoe and District Real Estate Board members are highly trained and knowledgeable about our unique area and all there is to offer.

    • More about the Simcoe & District Real Estate Board
    Twitter
    Visit Us
    Follow Me
    Tweet
    Facebook
    Facebook
    fb-share-icon
    Instagram
    Pinterest
    Pinterest
    Pin Share
    YouTube
    YouTube
    Trip Advisor
    About the Author
    Social Share

      Recent News

      • Export Readiness Seminars January 27, 2020
      • Dynamic speakers tabbed for Economic Development Symposium January 27, 2020
      • Employers wanted for Multi-Sector Job Fair March 2 January 21, 2020
      • Annual Report 2019: Norfolk County Tourism and Economic Development January 21, 2020
      • SWIFT announces high-speed broadband projects in Norfolk County January 20, 2020

      News Categories

      News Archives

      Norfolk County Logo

      Norfolk County
      Economic Development
      185 Robinson St., Suite 200
      Simcoe ON  N3Y 5L6 Canada
      Contact Us
      Call 1-800-699-9038

      Development News

      Subscribe to Development News email bulletins

      Browse Latest News

      Links

      Norfolk Tourism
      Norfolk Farms
      Norfolk County
      EDCO
      EDAC

      Contact Us

      • This field is for validation purposes and should be left unchanged.
      © 2019 Norfolk County Economic Development
      Designed & Developed by Interkom Inc.