Last month, 258 single-family homes sold on the Multiple Listing Service® (MLS®) compared to 196 in January 2015, an increase of 32 per cent. Sales activity was down slightly from December 2015’s tally of 276 single-family homes sold. Inventory levels are continuing their downward trend, with active listings down 21 per cent compared to one year ago. In January 2016, the benchmark price of a single-family home in the VIREB area was $340,200, up 5.94 per cent from one year ago. Benchmark pricing tracks the value of a typical home in the reported area. The average MLS® price of a single-family home in January was $365,850, a seven per cent increase from January 2015 and up slightly over last month.
