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Parry Sound Real Estate | August 2015

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

Real estate sales in the Parry Sound area were very strong in the month of August for both the home and cottage market. Demand was excellent in almost all price ranges with the average price of recreational properties up 10.9% to $346,669 and homes down 8.2% to $260,106

Homes property sales recorded through the MLS® System of the Parry Sound & Area Association of REALTORS® were 77 units in August 2015, up 45.3 per cent from last year.

The average price for a home sold in August 2015 was $303,510, up 3.4 per cent increase from last year. New listings for homes were 123 units in August 2015, a 25.5 per cent increase from August 2014. This was the second highest August level on record.

The average price for cottages and waterfront real estate was up 10.9 per cent on a year-over-year basis to $346,669 in August. The total number of Real Estate listings for homes, cottages and vacant land  has been steadily climbing back after dropping sharply in November 2014. There were 769 active residential listings on the Association’s MLS® System at the end of August 2015, down just 1.3 per cent from the same time in 2014.

In the Magnetwan area, demand remained strong for both homes and waterfront cottages with inventory very low on the in the town itself. Ahmic lake, Lake Cecebe and Horn Lake, as always, continue to be very popular choices.

There were 10 months of inventory on the Parry Sound Real Estate Board at the end of August 2015. This was down from 14.7 months a year ago and below 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.