Cambridge Residential Sales Robust in December

There were 102 single family residential units sold through the Cambridge MLS® housing market in December 2017 – this represents a 7.4% increase in levels reported in the same month a year earlier. Of the 102 residential units sold, there were 81 single family freehold detached residential units which represents a 9.5% increase in levels reported a year earlier, says Sheldon Barclay, President of the Cambridge Association of REALTORS® Inc.

“December marked an average end to a volatile year in which the highs more than offset the lows,” said Sheldon Barclay, President of the Cambridge Association of REALTORS®. “2017 was the best year for sales in the region since 2003. Activity also looks like it may have been building again heading into 2018, but part of that could be the result of a pull-forward of demand in advance of new mortgage rules. We’ll have to get a few months into 2018 to say for sure.”

The average MLS® single family freehold residential unit price was $468,612 in December which represents an increase of 11.5% over the same month a year earlier. The average MLS® single family detached residential unit price was $491,995 which represents an increase of 9.2% from a year ago.

The dollar volume of all single family freehold sales in December 2017 was $47,329,774 which represents an increase of 18.5% from a year earlier.

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The Cambridge Association of REALTORS® promotes its Members professionalism and dedication to building a strong community through homeownership and quality investments.

Disclaimer: Effective March 1, 2017 the statistics for the Cambridge Association of REALTORS® represents only single-family freehold & single- family freehold detached properties sold in the City of Cambridge and the Township of North Dumfries and does not include condominium sales.

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