Sault home sales set new record in December 2020, up 8.9 percent from previous year

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Sault Ste. Marie Real Estate Board MLS® home sales set new annual record in 2020

Source: The Canadian Real Estate Association

The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 117 units in December 2020. This was a substantial increase of 77.3% from December 2019 and was a new sales record for the month of December.

On an annual basis, home sales totaled a record 1,767 units over the course of 2020. This was up 8.9% from the same period in 2019.

The average price of homes sold in December 2020 was $224,960, advancing 24.6% from December 2019.

The more comprehensive annual average price was $208,507, rising 16% from all of 2019.

The dollar value of all home sales in December 2020 was $26.3 million, more than double the levels from a year earlier, surging 120.9% from the same month in 2019. This was also a new record for the month of December.

There were 71 new residential listings in December 2020. This was a decrease of 13.4% (11 listings) from the end of December 2019. This was the lowest number of new listings added in the month of December in more than five years.

Active residential listings numbered 169 units at the end of December, declining by 58.5% from the end of December 2019. This is the first time in over three decades active listings have been below 200 homes.

Months of inventory numbered 1.4 at the end of December 2020, down from the 6.2 months recorded at the end of December 2019 and below the long-run average of 8 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.

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