Sault Ste. Marie
Do you want to sell your Sault Ste. Marie home? If you have a house or a residential property in this region, Sault Ste. Marie Real Estate Board is here to help you get the best experience. This real estate agency represents local REALTORS® and readily offers real estate services. Let us consider an MLS® report on their November home sales.
Home Sales
In November 2020, Sault Ste. Marie Real Estate Board was able to sell homes totaling 141 units through the MLS® System. This figure is a 15.6% increase from the one reported in November 2019. Furthermore, it was a new record for home sales for November. Additionally, on a year-to-year basis, the sales totaled 1,651 units over the first 11 months of 2020. This is a 6.1% increase from the figure recorded over the first 11 months of 2019. Besides, the dollar value of the total home sales in November 2020 was $31.3 million. This was a 49% rise from the one in 2019 during the same period. Nonetheless, the figure was a new record for November. Also, there were 527 units of single detached home sales in the third quarter of 2020. This is a 23.4% increase from the figure recorded for the same quarter in the previous year. Nonetheless, this was the highest level of sales ever recorded in any quarter.
The Average Price
Sault Ste. Marie recorded an average price of homes totaling $221,645 in November 2020. This average price was a 28.9% increase from the one experienced in November 2019. On the other hand, the year-to-date average price during the first 11 months of 2020 was $207,299, a 15.3% increase from the first 11 months of the previous year.
Residential Listings
In November 2020, Sault Ste. Marie recorded 139 new residential listings. This figure was a slight increase of 0.7% from the end of November the previous year. Moreover, at the end of November 2020, the active listings experienced totaled 257 units. Unfortunately, this was a huge decrease of 48% from the one recorded previously at the end of November 2019. Importantly, the overall listings recorded in November were at their lowest levels. Therefore, if you had decided to sell your home, house, or residential property in Sault Ste. Marie during this period, you would have increased the listings and hence the supply.
Months of Inventory
These are the months it can take to sell available inventories at the prevailing rate of sales activity. At the end of November 2020, there were 1.8 months of inventory. This was a reduction from the 4months which were reported at the end of November the previous year. Furthermore, the figure was below the long-run average of 6.2 months for November.
Conclusion
Sault Ste. Marie Real Estate Board, led by Anne Thomas as the president, strives to offer affordable and high-quality support to its membership, staff, and the Sault Ste. Marie community at large. It facilitates the buying and selling of the residential property to its clients. Furthermore, the above report showed how the November home sales were recorded.