MLS® sales grow in February

Real estate sales in the region rose significantly this February, according to MLS® statistics released by the Sudbury Real Estate Board.

The Board's MLS® system recorded 209 transactions for all types of real estate in February. This represents a six per cent increase over January.

The total dollar volume reported by the Board's MLS® system in February 2007 was $39,717,831. This represents a 58 per cent increase over the past year.

“February 2007 was a very strong month for real estate sales in Sudbury,” said Board President Dan Gray. “We expect both residential and commercial property sales in Sudbury to remain active in the coming months.”

There was an increase in the sale of residential properties from January to February. The Board's MLS® system reported 181 homes sales in February 2007, up six per cent from January 2007.

The total value of residential transactions reported through the Board's MLS® system in February 2007 was $32,936,291. This represents an increase of 22 per cent compared to January 2007 and an increase of 40 per cent compared to February 2006.

The average price of homes sold through the Board's MLS® system this February was $181,968. This compares to $157,794 in January and $139,774 last February. These figures are useful for comparison purposes and for establishing trends, however, the Board states they do not indicate the actual cost of a home due to the wide selection of housing available in the area.

A total of 250 new residential listings were added to the Board's MLS® system in February. At the end of the month, the Board's MLS® system showed 621 active residential listings.

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.