Sault Ste Marie Real Estate Board Statistics December 2021

Sault Ste Marie Real Estate Board Statistics December 2021 by Tammy Dufault

MLS home sales for the Sault Ste Marie Real Estate Board for December 2021 were the second best in history and final numbers for the year are on the way to a new annual record.

The number of homes sold totaled only 85 units, a large decline of 26.7% from December 2020.

The average price of homes was $286,455, a gain of 26.4% from December 2020. Comparatively, the annual average price was $268,797, up by 29% from the end of 2020.

On an annual basis, home sales totaled a record 2,362 units this year, up by 33.8% from 2020.

Active residential listings were at an historical low, down by 39.2% from the end of December 2020, with only 101 units on the market at the end of December 2021. That's 70.3% below the five-year average.

Months of inventory was 1.2 at the end of December 2021, down from the 1.4 months at the end of December 2020. This is well below the long-run average of 7.4 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.)

Source of information: Canadian Real Estate Association