Residential sales activity recorded through the MLS® System of the Simcoe & District Real Estate Board totaled 37 units in December 2019. This was an increase of 23.3% (seven sales) from December 2018 and was about average for that month.
On an annual basis, home sales totalled 762 units in 2019, an increase of 17.6% from 2018.
“Home sales managed a year-over-year increase in December even as new listings continued to fall,” said Prue Steiner, President of the Simcoe & District Real Estate Board. “The ongoing supply shortage in the region continues to result in sizeable price gains, and that situation will likely become more extreme next year unless new listings really pick up.”
The average price of homes sold in December 2019 was $391,054, up 4.7% from December 2018.
The more comprehensive annual average price for 2019 was $398,323, rising 7.2% from 2018.
The dollar value of all home sales in December 2019 was $14.5 million, jumping 29.2% from the same month in 2018. This was a new record for the month of December.
There were only 33 new residential listings in December 2019, down 26.7% (12 listings) on a year-over-year basis and the lowest level on record.
Active residential listings numbered only 131 units at the end of December, a decrease of 12.7% from the end of December 2018.
Months of inventory numbered 3.5 at the end of December 2019, down from the 5 months recorded at the end of December 2018 and well below the long-run average of 10 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 (Norfolk County) 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.
