At the end of March there were 507 active real estate listings on the Parry Sound Real Estate board. This includes Cottages, Homes, Businesses and Vacant Land for sale. This is about a 10% decline over 2012. At our office in Magnetawan we noticed it getting stronger towards the end of the month on the listing side. The average price for a home was $273,667 which is up 17% over last year.
Total Sales Down Slightly in March
Home real estate sales were 24 units in March 2013. This was a down of 4% from March of 2012 but with such low overall numbers this is just one sale. Cottage Real Estate in Parry Sound on the other hand increased from four sales in March 2012 to six sales in March 2013. Once again, small numbers but they are going the right direction. The average price for cottages and recreational properties was $362,250. This is a 13% increase over last year. New residential listings numbered 186 units in March 2013, a nine per cent decrease from the same month in 2012. There were 21.1 months of inventory at the end of March 2013. This was down from 22.4 months at the end of March 2012. 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.
Magnetawan Real Estate Market Activity
As far as the Real Estate Market in Magnetawan, we have had a great start to the year. There has been a very strong demand for both Cottage and Residential Real Estate. Our listing numbers are up as well which is giving us a balanced market. Inquiries for quality Waterfront properties has continued through April.