The number of homes sold through the MLS® System of the Sudbury Real Estate Board totaled 258 units in October 2021. This was a large decline of 11% from October 2020 but was still the second best level for this month in history.
Home sales were 2.1% above the five-year average and 14.7% above the 10-year average for the month of October.
On a year-to-date basis, home sales totaled a record 2,798 units over the first 10 months of the year. This increased by 19.1% from the same period in 2020.
The average price of homes sold in October 2021 was a record $427,513, an advance of 33% from October 2020.
The more comprehensive year-to-date average price was $393,990, up by 26.8% from the first 10 months of 2020.
The dollar value of all home sales in October 2021 was $110.3 million, an increase of 18.3% from the same month in 2020. This was also a new record for the month of October.
The number of new listings saw a big reduction of 13.1% from October 2020. There were 253 new residential listings in October 2021.
New listings were 5.9% below the five-year average and 16.8% below the 10-year average for the month of October.
Active residential listings numbered 213 units on the market at the end of October, a substantial reduction of 40.7% from the end of October 2020. Active listings haven’t been this low in the month of October in more than 25 years.
Active listings were 68.6% below the five-year average and 79.3% below the 10-year average for the month of October.
Months of inventory numbered 0.8 at the end of October 2021, down from the 1.2 months recorded at the end of October 2020 and below the long-run average of 4.9 months for this time of 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.