According to statistics provided by the Cambridge Association of REALTORS®, home sales numbered 178 units in February 2017, up 0.6% or one sale from February 2016. On a year-to-date basis home sales totaled 290 units over the first two months of the year, down 1.7% (five sales) from the same period in 2016. “Home sales in February 2017 managed to reach a five-year high for the month as the market got a bit of a rebound in new listings in February compared to January,” said Jim Robinson, President of the Cambridge Association of REALTORS®. “With only about two weeks’ worth of inventory, the market is currently the tightest it has ever been. Not surprisingly, this led to another very large year-over-year increase in the average sale price in February.” The average price for homes sold in February 2017 was $452,534, up 28.6% from February 2016. The year-to-date average price was $440,622, rising 27.9% from the first two months of 2016. The dollar value of all home sales in February 2017 was $80.5 million, up 29.3% from the previous February. This was a record for the month. New residential listings fell 17.6% on a year-over-year basis to 211 units in February 2017. That said, this was an improvement from the 27.8% decline recorded in January. Overall supply is currently trending at record lows. There were just 130 active residential listings on the Association’s MLS® System at the end of February, down 56.1% from February 2016. There were just 0.7 months of inventory at the end of February, down from 1.7 months at the end of February 2016. 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 183 units in February, increasing 1.1% (two sales) from February 2016. The dollar value of all sales in February 2017 totalled $84.7 million, up 32.6% from levels reported in February 2016. Founded in 1953, the Cambridge Association of REALTORS® Inc. is an Association of well-trained and educated REALTORS® who provide real estate related services to Cambridge and surrounding communities. Disclaimer: Statistics provided by the Canadian Real Estate Association. Over 10+ Years Helping You Buy, Sell, Rent And Invest In Real Estate. My Page Is Full Of Great Real Estate Content For Everyone. Click "Subscribe" Follow Me Online Here: Instagram: instagram.com/waterloorealtor Facebook: facebook.com/waterloorealtor Twitter: twitter.com/waterloorealtor Snapchat: www.snapchat.com/add/waterloorealtor Website: wickedawesomeagent.com/ Linkedin: www.linkedin.com/in/patkoz/ Company: www.remaxcentre.ca/ Proud Realtor, Vice President & Director for the Cambridge Association of Realtors.

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