The 2019 Greater Sudbury single-family MLS record contains 2,763 new listing entries and 1,985 sold closings. Its $263,000 median close price gives the scale of recorded sales, but a market-wide midpoint cannot price an individual home.

2019 at a glance

  • 2,763 new listing entries
  • 1,985 sold closings
  • $263,000 median close price

In 2018, this same local selection recorded 2,974 listing entries, 1,911 sold closings and a $252,000 median close price. Those are different sets of homes. The change in the median is not a same-home appreciation rate.

What these measures mean

Listing entries are assigned to the year their contract dates begin; sold closings are assigned to the year their valid close dates fall. They are not necessarily the same homes. A late-year listing can close in the following year, so dividing one annual count by the other would not measure the share of new listings that sold.

The median close price is the middle valid sale price in this local selection. It can shift when the price range or property mix of closed sales changes. To value a specific property, I would compare nearby homes with similar size, condition, lot, features and market exposure.

Follow a home's listing history

The same address can appear under another MLS number after a listing ends. I check 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 establish one continuous sale attempt, and a previous sold listing belongs to a separate sale cycle. These are listing-event totals, not unique-property counts or a failure-to-sell rate.

For a buyer or seller

If you are buying, use the year-end figures to frame questions about the homes available now. Confirm financing and carrying costs, inspect condition and compare recent sales of truly similar properties. If you are selling, start with the homes competing for your buyer today, then set a price range and review the response as the listing goes live.

About the figures: This local Greater Sudbury single-family MLS selection uses ListingContractDate for listing entries, valid CloseDate and positive ClosePrice for sold closings, and the middle valid close price for its median. It is narrower than the Sudbury Real Estate Board's full reporting area and is not a certified count of every City property. Records may be revised. See the monthly reports for the path through the year.

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