May 18, 2010

Own a cottage in Muskoka? It is looking like the market is starting to heat up for you!

According to CREA:

“The number of homes sold through the MLS® System of the Muskoka & Haliburton Association of REALTORS® more than doubled from year-ago levels in April 2010. Meanwhile, new listings set a record for the month.

According to statistics provided by the Association, home sales numbered 238 units in April 2010. This is up 116 per cent from levels reported in the same month last year. It was also the highest level for April sales in six years, and the third best ever.

The dollar value of home sales in April 2010 totalled $86.2 million, up 160 per cent from year-ago levels. This is the highest level on record for the month of April.

Total sales activity was up 98 per cent year-over-year to 310 units in April. The total value of all properties sold in April 2010 was $96.1 million, rising 138 per cent from a year earlier.

The residential average price was $362,077 in April 2010, 20 per cent above levels from one year ago.

New listings on the Association’s MLS® System were up 41 per cent year-over-year to 691 units in April, a record for the month. Recent gains in new listings are now pushing up the overall supply of homes for sale on the market. There were 1,825 active residential listings on the Association’s MLS® System at the end of April 2010, rising eight per cent from year-ago levels.

There were 7.7 months of inventory at the end of April, well below levels at the same time last year (15.4 months). The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.”

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