Residential sales activity recorded through the MLS® System of the Simcoe & District Real Estate Board totaled 39 units in January 2019. This was an increase of 18.2% (six sales) from January 2018.
“Simcoe home sales bounced up to start 2019,” said Melissa Mummery, President of the Simcoe & District Real Estate Board. “The January 2019 sales figure was actually one of the best starts to any year in the last decade.”
The average price of homes sold in January 2019 was $367,210, down 9.2% from January 2018. That said, the January 2018 reading was aberrant. The overall trend is still moving higher.
The dollar value of all home sales in January 2019 was $14.3 million, up 7.3% from the same month in 2018.
There were 56 new residential listings in January 2019, down just 1.8% (one listing) on a year-over-year basis.
Overall supply is up from last year but is still running at some of the lowest levels on record for this time of the year. Active residential listings numbered 143 units at the end of January, an increase of 30% from the end of January 2018. That said, it was still well below the beginning of every other year. The average for the end of January is about 350 listings.
Months of inventory numbered 3.7 at the end of January 2019, up slightly from the 3.3 months recorded at the end of January 2018 but well below the long-run average of 11.8 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. (Norfolk County – Delhi, Long Point, Port Dover, Port Rowan, Simcoe, Waterford) Simcoe and District Real Estate Board members are highly trained and knowledgeable about our unique area and all there is to offer. To find a licensed real estate Broker/Sales Representative of Simcoe & District Real Estate Board, go to www.SDREB.com.
