JANUARY REAL ESTATE REPORT ~ ONTARIO
Ontario home sales remain at near-record levels in January despite ongoing supply shortage
Highlights
Residential sales up 10.5% in January 2017 compared to a year earlier.
New listings in Ontario numbered 17,830 units in January 2017, a decrease of 14.8% compared to last year.
The provincial average price of homes in January 2017 rose 19.8% compared to a year earlier.
There were just 2.4 months of inventory at the end of January 2017.
*Source: The Canadian Real Estate Association. Monthly Stats Report.
Unit Sales ~ SALES UP 10.5%
Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario
numbered 11,277 units in January 2017, up 10.5% from a year earlier.
Newly Listed Units ~ 17,830 NEWLY LISTED UNITS
New listings on the MLS® Systems of real estate boards in Ontario numbered 17,830 units in January 2017, a decrease of 14.8% from a year earlier.
Average House Price ~ AVERAGE HOUSE PRICE $556,631
The provincial average price for homes sold in January 2017 was a record $556,631 rising 19.8% from a year earlier.
Months of Inventory ~ 2.4 MONTHS OF INVENTORY
There were just 2.4 months of inventory at the end of January 2017, down from 4 months from the same time one
year ago. 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.
Sales to New Listings Ratio ~ SALES TO NEW LISTING RATIO 86.1%
The Ontario sales-to-new listings ratio was 86.1% in January 2017. A sales-to-new listings ratio between 40 and
60 percent is generally consistent with balanced housing market conditions, with readings below and above this
range indicating buyers’ and sellers’ markets respectively.
Summary ~ If you have a property to sell this spring and your property is priced fairly in a competitive
market it should sell. List with an experienced, professional real estate broker to obtain your best price for
an expeditious sale
The best place to live or play ~ Lake of Bays & Huntsville
Experience and Dedication for 20+ years
Janine Scott, Real Estate Broker
Re/Max North Country Realty Inc
Direct: 705-788-4930 [email protected]
www.janinescott.com
HO: 705-788-1444 29 Main St, Huntsville
www.remax-muskoka.com