In October 2015, the Greater Sudbury House MLS selection recorded 220 new listing entries and 162 sold closings. Those measures show the flow of homes entering the records and sales reaching their closing dates; they are not two stages of the same monthly group.

October 2015 at a glance

  • 220 new House listing entries
  • 162 sold House closings
  • 73.64% same-period closing-to-listing flow relationship

This is the first complete monthly House period in this series. I would use it as a starting point for later comparisons rather than force a comparison with the partial September record.

How to read the activity

The 73.64% relationship divides this month's sold closings by its new listing entries. It is a comparison of two flows, not the percentage of newly listed homes that sold. A closing this month may follow an earlier listing. Likewise, a home that leaves the market can return under a new MLS number. I compare the address, contract and off-market dates, property type and recorded features before treating two records as a possible return. A matching address alone does not prove it is the same sale attempt.

For a buyer or seller

If you are buying, start with the houses currently available in your range, then compare each serious option with recent sales of similar homes. Check financing, condition, taxes and likely repairs before deciding what an offer can support. If you are selling, put your house beside the active alternatives a buyer will tour. Condition, presentation and the first response to your asking price tell you more about your position than a citywide flow ratio.

About these figures: The House subset uses MLS listing-contract dates for new listing entries and valid closing dates for sold closings in the Greater Sudbury geographic partitions reviewed. It is a listing-event record, not a certified count of every municipal or board-area home. One property can have more than one MLS number, and these figures do not establish a unique-home relisting rate, inventory level, days on market or future price.

Follow the market-update archive or bring your property details to me for a comparison that fits your decision.

Expect Moore for Your Real Estate.
Chad Moore, REALTOR®
Lake City Realty Ltd., Brokerage