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September Real Estate Booms

Residential sales activity in the area served by the Timmins Real Estate Board came in well above year-ago levels in September 2013. Home sales numbered 122 units in September, a record for the month. This was up 13 per cent from last September.

Residential sales activity in the area served by the Timmins Real Estate Board came in well above year-ago levels in September 2013. Home sales numbered 122 units in September, a record for the month. This was up 13 per cent from last September. It was also the first time on record that sales in the month of September have ever topped the 120 mark. The average price of homes sold in September 2013 was $170,618, an increase of nine per cent from the same month last year. This was the second highest average price on record, just $213 shy of the all-time record set in May 2013. The total value of home sales in September 2013 amounted to $20.8 million, up 23 per cent from last September. This was the second highest monthly dollar volume of any month on record, and just the third time the measure has surpassed the $20 million mark in a single month. New residential listings rose 16 per cent from year-ago levels to 170 units in September 2013. Overall supply has been on the rise in recent months, although strong demand has kept the market balance in check. Active listings on the Board’s MLS® System numbered 697 units at the end of September, up 23 per cent from a year earlier. There were 5.7 months of inventory at the end of September 2013, up from 5.2 months at the end of September 2012 but still below the long-run average for this time of the year. 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. Sales of all types of properties numbered 146 units in September 2013. This was an increase of 12 per cent from the same month a year earlier. The total value of all property sales was $22.7 million, up eight per cent from levels in September 2012.