Cambridge house sale prices up nearly 30% year-over-year
For sale signs are seen in Oakville, Ont., on Friday, May 22, 2015. (THE CANADIAN PRESS IMAGES/Richard Buchan)
May 2017 was a much busier month for home sales in Cambridge than May 2016 was – and the homes that changed hands sold for more money, as well.
According to the Cambridge Association of Realtors, there were a total of 273 residential properties sold in Cambridge and North Dumfries last month.
That figure represents an increase of 30.6 per cent over May 2016.
The average sale price of a detached home was $527,787, while the average sale price of a freehold home was $503,215 – increases of 29.3 per cent and 28.3 per cent respectively over the same month one year earlier, though slight decreases from what was seen in April.
“Sales continue to run at near-record levels, and it appears the market may finally be seeing a bit of relief on the supply side with new listings continuing to rise,” Cambridge realtor association president Jim Robinson said in a news release.
Robinson says he expects listing and sale levels to increase over the summer.