The number of homes sold through the MLS® System of the Cornwall and District Real Estate Board totaled 188 units in June 2021. This was up by 16.8% from June 2020. This was also a new sales record for the month of June.
Home sales were 14.6% above the five-year average and 19.6% above the 10-year average for the month of June.
On a year-to-date basis, home sales totaled a record 1,000 units over the first six months of the year. This was a substantial increase of 61% from the same period in 2020.
“Home sales set yet another record, this time for the month of June. Sales activity has continued unabated at its breakneck pace for a year since surging to new heights last summer,” said Troy Vaillancourt, President of the Cornwall and District Real Estate Board. “A strong increase in new supply coming onto the market has kept overall inventories from falling any further, but make no mistake, available supply levels are still trending close to rock bottom and the market balance remains deep in seller’s territory.”
The average price of homes sold in June 2021 was $354,433, a sizable gain of 16.6% from June 2020.
The more comprehensive year-to-date average price was $353,487, a substantial gain of 34.4% from the first six months of 2020.
The dollar value of all home sales in June 2021 was $66.6 million, an advance of 36.1% from the same month in 2020. This was also a new record for the month of June.
The number of new listings was up sharply by 43.4% from June 2020. There were 238 new residential listings in June 2021. This was the largest number of new listings added in the month of June in five years.
New listings were 13.5% above the five-year average and 2.7% below the 10-year average for the month of June.
Active residential listings numbered 215 units on the market at the end of June, a substantial decrease of 14.3% from the end of June 2020. Active listings haven’t been this low in the month of June in more than three decades.
Active listings were 53.7% below the five-year average and 68.7% below the 10-year average for the month of June.
Months of inventory numbered 1.1 at the end of June 2021, down from the 1.6 months recorded at the end of June 2020 and below the long-run average of 4.5 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.
