When looking at real estate sales around Ontario, everything is relative.
In southern Ontario it was a difficult winter, but in areas even further north it was even more wintery -- colder and snow accumulation.
Our real estate board (WIDREB; see story below), had to recover from a slow start to 2014, and so did other areas such as Timmins, Cochrane, New Liskeard, Kirkland Lake, etc.
Keeping everything in context about improved sales with improved weather, here is their market's press release.
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Residential sales activity in the area served by the Timmins, Cochrane & Timiskaming District Association of REALTORS® was unchanged from year-ago levels in May 2014, although this marked a sizeable rebound from the first four months of the year.
Home sales numbered 111 units in May. This was right on par with both the five and 10-year average for this month.
The average price of homes sold in May 2014 was a near-record $170,673, edging down just $212 from the record set last May.
The total value of home sales in May 2014 amounted to $18.9 million, edging down less than half of one per cent from May 2013.
New residential listings rose nine per cent from year-ago levels to 174 units in May 2014. This was tied for the highest level of new supply on record.
Overall supply has been on the rise in recent months. Active listings on the Association’s MLS® System numbered 709 units at the end of May, up 13 per cent from a year earlier.
There were 6.4 months of inventory at the end of May 2014, up from 5.7 months at the end of May 2013 and above 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 133 units in May 2014. This was unchanged from the same month a year earlier. The total value of all property sales was $23.3 million, rising six per cent from levels in May 2013.
Home sales numbered 111 units in May. This was right on par with both the five and 10-year average for this month.
The average price of homes sold in May 2014 was a near-record $170,673, edging down just $212 from the record set last May.
The total value of home sales in May 2014 amounted to $18.9 million, edging down less than half of one per cent from May 2013.
New residential listings rose nine per cent from year-ago levels to 174 units in May 2014. This was tied for the highest level of new supply on record.
Overall supply has been on the rise in recent months. Active listings on the Association’s MLS® System numbered 709 units at the end of May, up 13 per cent from a year earlier.
There were 6.4 months of inventory at the end of May 2014, up from 5.7 months at the end of May 2013 and above 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 133 units in May 2014. This was unchanged from the same month a year earlier. The total value of all property sales was $23.3 million, rising six per cent from levels in May 2013.
Important information
The Timmins, Cochrane & Timiskaming District Association of REALTORS® is an Association of 113 REALTORS® that provides services to and sets standards for members and offers professional support and a local Multiple Listing Service®. The Board's region covers the most northerly Ontario border to the north boundary of Temagami in the south. West to east the Board's boundary goes from the Pagwa River to the Quebec border. The Board area includes such towns and cities as Hearst, Kapuskasing, Smooth Rock Falls, Cochrane, Iroquois Falls, Matheson, Timmins, Kirkland Lake, Englehart, Earlton, New Liskeard, Haileybury and Cobalt.
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