Slight increase in listings, decrease in home sales for May

The past couple of months have shown a slight increase in available residential real estate listings, but with fewer sales for May over last year.

“May had a modest increase of 6.9 per cent new residential listings over last year, with the current year coming in with 618 new units compared to 578 for last year,” said Natasha Huizinga, president of the Quinte and District Association of Realtors. “The total active residential listings currently sits at 816 listings compared to 675 for the same period in 2017, reflecting a healthy increase of 20.9 per cent.”

Dollar sales for all property types in May 2018 was $145,958,153 – down 10.2 per cent from 2017, which was $162,550,679. The monthly dollar sales for residential also comes in with a comparable 9.1 per cent decline, with the month-end number sitting at $132,093,553 for 2018 compared to $145,267,743 for 2017.

Residential sales in units sold in May were also down in 2018, with 405 units sold compared to 474 units in 2017, reflecting a 14.6 per cent decrease.

The average sale price for residential listings has increased 6.4 per cent over the same time last year, coming in at $326,157 for 2018 and $306,472 for 2017.

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