Area real estate sales through to the end of November remained at a record pace for 2014 with year-to-date MLS® sales setting another new record.
MLS® sales for the month of November as reported by the Southern Georgian Bay Association of REALTORS® reflected an increase of 3% with $49.5 million in sales for the month. Individual MLS® unit sales totaled 163 properties an increase of 9% over November 2013.
Year-to-date MLS® sales of $666.5 million represents a 10% increase over the first eleven months of 2013, sales in 2014 have already eclipsed the entire total for last year. MLS® unit sales for the year are up 3% with 2,091 individual property sales this year versus 2,022 during the first eleven months of last year.
Sales over $500,000 continue to remain very strong in 2014 which is why the increase in total MLS® dollar sales exceeds the increase we are seeing in the number of properties being sold. Sales between $500,000 and $800,000 are up 15%, while sales in the $800,000 to $1 million range are up 33% with 44 sales this year compared to 33 in 2013.
The area condominium market has been extremely strong throughout 2014. Through the first eleven months of this year there have been 420 MLS® condo sales reported compared to 358 last year. This marks the first time that year-to-date MLS® condo sales have exceeded 400 units sold. MLS® single family home sales of 1,368 properties, represents an increase of 4% over the number of single family homes sold year-to-date in 2013.
As we head into the final month of 2014, market activity shows no sign of letting up. As of this posting we are 10 days into December and MLS® sales total $24 million. In December 2013 MLS® sales for the entire month were just $26 million so it would appear that another record month is shaping up which will see MLS® dollar sales for the year shatter another record with close to $700 million in MLS® sales reported for 2014.
For further information about market conditions that may affect your specific selling or buying real estate objectives, please do not hesitate to contact me for a no obligation discussions about how I can help you to meet your goals.