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4 The Canadian Statesman, Bowmanville, March 24 1976 Section Two MLS Sales Real estate sales, processed through the Multiple Listing Service across Canada reach- ed record proportions in 1975. Year-end results, released recently by the Canadian Real Estate Association (CREA), showed a total value of $6.7 billion worth of property was exchanged through the volun- tary listing system operated by local real estate boards. This was an increase of over 48 per cent from the previous high of $4.6 billion reached in 1974. While increasing prices accounted for some of this growth, the number of proper- ties sold through MLS also in- creased by 30 per cent, a dramatic shift in annual increases compared to 4 per cent in 1974 and 14 per cent in 1973. The national average sale price, according to the CREA statistics of $45,909, was up $4,852 from the 1974 average, or 11.8 per cent, slightly more than the increase in the cost of living index at 10.4 per cent. Commenting on the year- end results, CREA Executive Vice-president Blair Jackson noted that the price increase was in fact the lowest in three years. "Compared to increases of 27 per cent in 1974 and 21 per cent in 1973, there is a clear indication that price pressures in the market have definitely moderated," he said. "Main- taining an increase approx- imately in proportion to the cost of living only ensures that real estate values are not eroding due to inflationary influences." Jackson pointed out that the sales to listing ratio for the year of 43 per cent confirmed Hit Record that there was still a resist- ance to high asking prices and over valued properties. "A great deal of selectivity is still going on between serious vendors and purchasers," he suggested. CREA was quick to point out that the growth of the MLS volume was not necessarily an irdication of the total growth of market activity. "While no total resale fig- ures exist," Jackson said, "we suspect that the generally slower market has encour- aged more vendors to use the facilities of the MLS system, which would in part account for the record volume." The CREA survey showed that British Columbia has now firmly replaced Ontario in terms of higher cost housing, while Alberta remained third. After average price gains of 26 per cent in 1973 and 1974, Ontario increases dropped to 5.4 per cent. B.C. prices dropped to 16 per cent last year after previous growths of 23 and 36 per cent. Quebec also dropped to 6 per cent in 1975 after a 22 per cent increase the year before while most other provinces still reported mod- erate but consistent gains. Most properties processed through MLS are houses and the majority of these are resale houses. MLS is an optional listing information service used by 75 Canadian real estate boards. The 40,000-member Can- adian Real Estate Association is an organization of 90 real- • estate boards across the nation and 10 provincial associations and others, who have a direct interest and involvement in the real estate vocation in Canada. Home Improvement s economical with C MANVERS COUNCILI 10' x 9' Spacemaker Manvers Township council met a week late on March 9 after the originally scheduled meeting for March 2 was postponed because of poor weather. Bert Reil, Chairman of the PRthany Community Centre, presented a recommendation to remove the'stage from the former Township Hall at Bethany at the council meet- ing. Mr. Reil told councillors that to coincide with the renovations that are under- way at the centre, the removal of the stage is needed for making maximum use of the hall. A large amount of space to hold the greatest number of people is required in order to pay for any orchestra playing for a dance in the hall, he said. The council moved to hold a public meeting in the hall to discuss removing the stage with other residents at 8 p.m. on April 20. - In other items carried by the Manvers Council, the Ponty- pool Chamber of Commerce was given permission to sponsor a beer festival in the Pontypool Park on July 23 and 24. Council moved to inform the Strahl Construction Company "IS HE HURT BAD?" Life insurance to pay up the home mortgage should be carried by every family man. Such Mortgage Redemption Life insurance is offered at low premium by James ln- surance Agency Ltd. James 115urante Agent Limited DOUGLAS S. JAMES 24 KING ST. E., BOXW100 BOWMANVILLE ONT OFFICE 623-4406 RES. 623-5023 that as the subdividers of the Pontypool Subdivision they are responsible for any re- pairs that are needed in the area. The council carried a mo- tion for a meeting between Reeve and Road Superinten- dent George Neals and West and Morrison to discuss the widening of St. John St. S. in Bethany where three new houses will be built. The purpose of the meeting will be to secure extra land from West and Morrison for widen- ing the street, Deputy Reeve Lorne Curtin said. Approval of a Toronto- Dominion bank unit in Ponty- pool over a trial period was carried by council. Approval in principle was also given for the Sam Roy Development plan for 32 lots. However, the council will take more time to study the plan in detail before any final de- cision is made. Discussion of the location of park area and the money to develop existing park area in Randy Longfield's subdivision will come at a later meeting of the Manvers Council. Before the issue of whether Manvers Township will supply the engineering consultants for the subdivision, council is waiting until the snow is gone. 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