The Parry Sound real estate market was mixed for June with home sales down slightly for the month but up for the year. Cottages and vacant waterfront sales very strong in many price ranges.
Home property sales sold through the MLS® System of the Parry Sound & Area Association of REALTORS® were 49 houses in May 2015, down 5.8 per cent from May 2014.
For the year to date there were 142 home sales in the first five months of 2015. This is up 27.9 per cent from 2014 and is well above the 2013 levels.
The average price of all residential homes sold in May 2015 was $314,960, up 7.8 per cent from the same month in 2014.
Cottages Sales Up
The average price for waterfront cottage properties rose 3.7 per cent on a year-over-year basis to $329,795 in May. The average price for single detached homes was up 10.8 per cent over the same period to $314,335.
On a year-to-date basis the residential home price average was $321,131, up 14.0 per cent from the first five months of 2014.
New residential listings for sale numbered 207 units in May 2015, a 14.4 per cent increase from May 2014. This was a record for the month of May and the first May to ever surpass 200 new listings.
There were 726 active residential real estate listings for sale on the Association’s MLS® System at the end of May 2015, up 3.6 per cent from the same time in 2014. The supply of homes and cottages for sale has been steadily climbing back after lowering in November 2014.
Parry Sound Real Estate Inventory
There was 14.8 months of real estate inventory at the end of May 2015. This was above the 13.5 months from one year ago and stood above the long-run average for this time of the year.
In the Magnetawan area, both cottage and home real estate sales have been very strong for the first half of the year. Ahmic, Cecebe, Horn and Neighick Lakes are particularly active.
The number of months of inventory is calculated by the number of months it would take to sell current inventories at the current rate of sales activity.