Housings sales plunge 32 per cent in Greater Sudbury
Housing sales plunged by 32.1 per cent in Greater Sudbury in May, compared to the same period in 2019, according to statistics from the Canadian Real Estate Board. (File)
SUDBURY -- Housing sales plunged by 32.1 per cent in Greater Sudbury in May, compared to the same period in 2019, according to statistics from the Canadian Real Estate Board.
A total of 184 units were sold last month, the board said, compared to 271 in May 2019. Listings were also down, dropping by 36.7 per cent, as fewer people tried to sell their homes in the midst of the COVID-19 pandemic.
In all, 298 houses were put up for sale in May, compared to 471 last year.
While sales are down, prices for a home have increased by 8.4 per cent, with the average sale price at $298,431 in May, compared with $275,186 a year ago.
While a severe drop, Sudbury is faring better than Canada as a whole. The board said housing sales dropped nationwide by 56.84 per cent in April, the biggest drop it has ever recorded.
Among Canada’s largest markets, sales fell by 66.2 per cent in the Greater Toronto Area, 64.4 per cent in Montreal, 57.9 per cent in Greater Vancouver, 54.8 per cent in the Fraser Valley, 53.1 per cent in Calgary, 46.6 per cent in Edmonton, 42 per cent in Winnipeg, 59.8 per cent in Hamilton-Burlington and 51.5 per cent in Ottawa.