Renfrew County Real Estate Board

Market conditions in Renfrew County continue to improve in February

The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totaled 106 units in February 2024, surging 68.3% from February 2023.

Home sales were 1.3% below the five-year average and 11.8% above the 10-year average for the month of February.

On a year-to-date basis, home sales totaled 178 units over the first two months of the year. This was a jump of 52.1% from the same period in 2023.

The average price of homes sold in February 2024 was $464,372, increasing by 17.8% from February 2023.

The more comprehensive year-to-date average price was $449,496, a gain of 10.5% from the first two months of 2023.

The dollar value of all home sales in February 2024 was $49.2 million, up sharply by 98.2% from the same month in 2023.

The number of new listings saw a substantial increase of 50.9% from February 2023. There were 166 new residential listings in February 2024.

New listings were 5.7% above the five-year average and 2.9% below the 10-year average for the month of February.

Active residential listings numbered 305 units on the market at the end of February, a sizable gain of 29.2% from the end of February 2023.

Active listings were 18.8% above the five-year average and 41.4% below the 10-year average for the month of February.

Months of inventory numbered 2.9 at the end of February 2024, down from the 3.7 months recorded at the end of February 2023 and below the long-run average of 6.1 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.

BOARD & ASSOCIATION INFORMATION

Our mission is to provide leadership and support to the members of the Renfrew County Real Estate Board in their pursuit of professional excellence.

The Renfrew County Real Estate Board (RCREB) was formed in 1975 and is a trade association with approximately 160 registered Brokers and Salesperson members in Renfrew County. Members of the Board are also members of the Canadian Real Estate Association (CREA) and the Ontario Real Estate Association (OREA) and as such are entitled to use the REALTOR® trademark.


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RENFREW COUNTY REAL ESTATE BOARD

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For more information, please contact:
Sue Martin
197 Pembroke St. East
Pembroke, ON K8A 3J6
613-735-5840
eo@rcreb.com

President
Amanda McParland

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