Total value of MLS® sales rises

The value of MLS® sales in the region served by the Sudbury Real Estate Board increased this November compared to the same period one year ago. MLS® sales activity eased compared to the previous month as part of the normal seasonal sales pattern for the area.

The total value of all property sales reported through the Board's MLS® system this November was $33,807,590. This is a decline of five per cent compared to October 2006 but an increase of 13 per cent compared to November 2005.

A total of 210 property sales were recorded through the Board's MLS® system this November – down 25 transactions compared to the previous month and a decline of 24 transactions from November 2005.

"November was a very good month for real estate in Sudbury," said Board President Dan Gray. "While sales have eased compared to the same period in 2005, this was what we expected and our market remains very active by historical standards. We are very optimistic about our fourth quarter results and expect to see an active and healthy real estate market in 2007."

The total value of home sales reported through the Board's MLS® system this November was $30,515,190. This is a decline of nine per cent compared to October 2006 but an increase of nine per cent compared to November 2005.

A total of 187 homes traded hands through the Board's MLS® system this November. This compares to 219 home sales in October 2006 and 210 in November 2005.

The average price of homes sold via the Board's MLS® system this November was $163,183 – a 23 per cent jump compared to November 2005 ($132,755). The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.

A total of 239 new residential listings were added to the MLS® system of the Sudbury Real Estate Board this November. There were also 782 active residential listings on the Board's MLS® system at the end of the month.

The Sudbury Real Estate Board represents approximately 260 REALTORS® registered with its member offices in the Greater Sudbury area. The Board - which was created in 1950 - hosts the Multiple Listing Service® (MLS®), provides educational courses, and ensures that members strive to meet uncompromising standards in their service to consumers.