Wednesday, October 4, 2023
HomeRegionalRecord home sales in December 2020 surpass 200 units sold, a new...

Record home sales in December 2020 surpass 200 units sold, a new record

The Quinte & District Association of Realtors Inc. (QDAR) is a not-for-profit association that serves approximately 500 realtors in Belleville, Quinte West, Prince Edward, Madoc, Marmora, Stirling, Tweed, Brighton, Trent Hills, Colborne, and Deseronto areas as well as other adjacent communities.
The Association provides a Multiple Listing Service System, ongoing continuing professional education courses, and related services for members.

In 2020 the Quinte & District Association of REALTORS Inc. MLS set a new annual record in home sales.

In December of 2020, the total number of homes sold through the MLS System of the Quinte & District Association of Realtors Inc was 211 units, an increase of 39.7% from December 2019.

Home sales in the Quinte region totalled a record of 3,975 throughout 2020, an increase of 13.9% from the same period in 2019.

“MLS home sales in our region continued their impressive run in December,” said President of the Quinte & District Association of REALTORS® Don McColl. “Finishing 2020 with yet another record performance.”

For the first time in history, the average price of homes sold broke through the 500K level, with the average price of homes sold in December 2020 being a record of $546,053, a substantial gain of 52.6% from December 2019.

“What is even more impressive is in a year dominated by COVID-19, home sales set a new annual record,” added McColl. “Moving forward into 2021, the headline story continues to be the strength of demand combined with dwindling active listings.”

McColl explained that new listings have not been able to keep pace with the number of sales the past five months, resulting in a reduced number of active listings.

In December 2020, 180 new residential listings were active, a decrease of 10.9% from the end of December 2019. It has been more than three decades since active listings numbered below 300 homes.

These factors have driven upward price momentum and have created some of the tightest conditions that the local market has ever seen.

In December of 2020, the average price for single-family homes rose by 31.2% to $412,700. By comparison, the benchmark price for townhouse/row units was $405,800, increasing considerably by 42.3% compared to a year earlier.

Also, a new record for December was the dollar value of all home sales that month, surging by 113.2% from 2019 to a total of $115.2 million.

Residents looking for local market expertise are encouraged to use one of the professional services of local REALTOR® members when buying or selling property. For more information about QDAR, including additional statistics, visit www.quinte-MLS.com.

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