Renfrew County has continued its hot streak when it comes to real estate, setting records for home sales and selling price.
Residential sales activity recorded in Renfrew County totalled 198 units in September 2020, a significant increase of 48.9% from September 2019, according to the latest report from the Renfrew County Real Estate Board.
The board said this was also a new sales record for the month of September.
On a year-to-date basis, home sales totalled a record 1,666 units, a gain of 10.2% from the same period in 2019.
The average price of homes sold in September 2020 was a record $330,768, higher by 34.5% from September 2019, and setting a new record for the third consecutive month.
The more comprehensive year-to-date average price was $302,813, rising by 15.5% from the first nine months of 2019.
There were 217 new residential listings in September 2020. This was an up 16.7% on a year-over-year basis.
The board said a combination of strong demand and low inventory has created an imbalance, driving the market firmly into seller’s territory.
Active residential listings numbered 302 units at the end of September, a substantial decline of 51.8% from the end of September 2019. Overall inventory is hovering at the lowest level in more than 30 years.
The dollar value of all home sales in September 2020 was $65.5 million, more than double the levels from a year earlier, surging 100.2% from the same month in 2019. This was also a new record for the month of September.
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