Record property sales for April but more listings needed

Despite fewer listings available, April sales for all property types are up 29.3 per cent over last year with the residential portion also up – by 25.9 per cent over the same month last year.

There were 397 residential sales in 2016, up from 330 units in April 2015.

“This result is a record for the month of April, since this number was first tracked in 2010,” says Cathy Polan, President, Quinte & District Association.

Polan notes active residential listings are down 24.5 per cent from a year ago, coming in at 1,333 listings compared to 1,766 in 2015.

“Demand has not been an issue so far in 2016, however, the lower inventory has caused some would-be home buyers to be frustrated.”

However, home selling prices continued to trend upward in April, with the residential average sold price at $256,474 which was a 4.7 per cent increase over the same month last year. The year-to-date average residential sold price is $240,510 – reflecting an increase of 4.1 per cent over the same period a year ago.

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