Local home sales up from last year

Posted: July 31, 2012 in General Information, Statistics
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 CAMBRIDGE, ON-Local home sales numbers have eclipsed those of a year ago according to the Cambridge Association of Realtors.

Statistics recorded through the MLS system, shows that home sales totalled 322 units last month, up 20 per cent from June 2011.

“It was actually the second best June ever, standing just a handful of sales below the peak reached back in 2003,” said association president Karen Monteiro.  

Sales were unexpectedly strong in June, particularly given the slowdown experienced in May, said Monteiro.

Some of that activity was due to homebuyers looking to beat the federal government deadline on 30-year mortgages. People were also looking to buy a new home and move in before kids go back to school in September.

The year-to-date figures for June show a total of 1,588 homes have traded hands so far this year. That is four per cent ahead of levels reported over the first half of 2011 and remains the best start to any year since 2007.

In June, the average sale price for a home was $294,617 – a three per cent increase over June 2011 prices. The dollar value of all home sales in June 2012 was a record $94.9 million, jumping 23 per cent from June 2011.

There are also no lack of homes on the market these days as new residential listings were up from June 2011 levels – rising 13 per cent to 571 units. This was the highest level of new listings on record for the month of June.

There were 946 active residential listings on the association’s MLS system at the end of June, down six per cent from levels reported at the same time in 2011.

It is also taking less time to sell a home in Cambridge.  There were 2.9 months of inventory at the end of June, down from 3.7 months at the end of June 2011.  

 

 

 

 

 

 

 

 

 

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