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Parry Sound Real Estate - Summer 2015

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Blog by John & Bonnie Fincham, Brokers | August 6th, 2015

The real estate market in the Parry Sound Area has been very soild once again this summer, with strong demand for both waterfront cottages and vacant waterfront lots. 

Real estate sales of homes recorded through the MLS® System of the Parry Sound & Area Association of REALTORS® were 54 houses in June 2015, up 1.9 per cent from June 2014.This is about a 20% increase from 2014.

The average price of all houses sold on the Parry Sound real estate Board in June 2015 was $329,493, rising 8.7 per cent from the same month in 2014.

The average price for cottage properties fell 2.3 per cent on a year-over-year basis to $391,854 in June. The average price for single detached homes was up 14.8 per cent over the same period to $251,333.

If we look at a year-to-date basis, the residential average price was $323,435, up 12.1 per cent from the first half of 2014.

New real estate listings of houses for sale were 190 units in June 2015, a 3.8 per cent increase from June 2014. This was the highest recorded for the month of June.

There were 804 active residential listings on the Association’s MLS® System at the end of June 2015, up just 2.6 per cent from the same time in 2014. The supply of homes, cottages and vacant land for sale has been steadily climbing after dropping sharply in November 2014.

In the Magnetawan region, both homes and waterfront cottages were in good demand with the larger lakes like Ahmic, Cecebe and Horn lakes being sought after. Large acreages were also moving very well with the number of real estate listings for vacant property starting to thin out.

There were 14.9 months of inventory at the end of June 2015. This was on par with levels from one year ago and stood above the long-run average for this time of the 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.