Prices continue to rise but it looks like the pandemic boom in Renfrew County home sales may be on its way out.
The Renfrew County Real Estate Board says the number of homes sold through its Multiple Listing Service (MLS) system totalled 184 units in March 2022, down 37.6% from March 2021.
Home sales remained 6.7% above the five-year average and 31.5% above the 10-year average for the month of March.
On a year-to-date basis, home sales totalled 417 units over the first three months of the year. This was a substantial decrease of 22.5% from the same period in 2021.
Meanwhile, the average price of homes sold in March 2022 was a record $509,316, a sizable gain of 24.5% from March 2021.
The more comprehensive year-to-date average price was $500,165, a gain of 32% from the first three months of 2021.
The number of new listings was also down sharply, by 27.2%, from March 2021. There were 279 new residential listings in March 2022.
New listings were 7.6% below the five-year average and 16.9% below the 10-year average for the month of March.
Active residential listings numbered 185 units on the market at the end of March, decreasing by 29.9% from the end of March 2021.
The RCREB says active listings haven’t been this low in the month of March in two decades.
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