The number of homes sold through the MLS® System of the Cornwall and District Real Estate Board totaled 88 units in December 2020. This was a large increase of 35.4% from December 2019. Residential sales haven’t hit this level in the month of December in a decade.
On an annual basis, home sales totaled 1,589 units over the course of 2020 This was up 9.9% from the same period in 2019.
“MLS® resale home sales in our region finished the year on a strong note.” said Helen MacLeod, President of the Cornwall and District Real Estate Board. “Once again new listings could not keep pace with the number of homes sold in December. These factors are further degrading an already historically low number of active listings and are acting as a constraint on our local market. Exasperating the already extremely tight market conditions we have been experiencing.”
The average price of homes sold in December 2020 was $294,011, up 11.4% from December 2019.
The more comprehensive annual average price was $293,162, rising 25.5% from all of 2019.
The dollar value of all home sales in December 2020 was $25.9 million, a substantial increase of 50.9% from the same month in 2019. This was also a new record for the month of December.
There were 80 new residential listings in December 2020. Increasing considerably by 50.9% from the end of December 2019.
Active residential listings numbered 138 units at the end of December. Declining 43.9% from the end of December 2019. Active listings haven’t been this low in the month of December in more than three decades.
Months of inventory numbered 1.6 at the end of December 2020, down from the 3.8 months recorded at the end of December 2019 and below the long-run average of 7.9 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.
The Cornwall and District Real Estate Board covers a large area, including the City of Cornwall and the Counties of Stormont, Glengarry, Prescott, and part of Dundas. It is uniquely situated next to the Quebec and U.S.A. borders, with the scenic St. Lawrence River running along the south and the Ottawa River along the north.
