Home sales in Renfrew County decline

·2 min read

Pembroke -- The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totalled 225 units in April 2022. This was a substantial reduction of 35.3 percent from April 2021.

However, home sales were 9.5 percent above the five-year average and 19.4 percent above the 10-year average for the month of April.

On a year-to-date basis, home sales totalled 642 units over the first four months of the year. This was a significant decrease of 27.5 percent from the same period in 2021.

The average price of homes sold in April 2022 was $485,259, up by 18.5 percent from April 2021.

The more comprehensive year-to-date average price was $494,941, an increase of 26.6 percent from the first four months of 2021.

The dollar value of all home sales in April 2022 was $109.2 million, a big reduction of 23.4 percent from the same month in 2021.

The number of new listings saw a substantial reduction of 36.3 percent from April 2021. There were 253 new residential listings in April 2022.

New listings were 19.6 percent below the five-year average and 33.1 percent below the 10-year average for the month of April.

Active residential listings numbered 172 units on the market at the end of April, a sharp decrease of 34.8 percent from the end of April 2021. Active listings haven’t been this low in the month of April in two decades.

Active listings were 68.8 percent below the five-year average and 80.5 percent below the 10-year average for the month of April.

Months of inventory numbered 0.8 at the end of April 2022, unchanged from the 0.8 months recorded at the end of April 2021 and below the long-run average of 5.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Connie Tabbert, Local Journalism Initiative Reporter, The Eganville Leader

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