The Rideau-St. Lawrence Real Estate Board

The number of homes sold through the MLS® System of the Rideau-St. Lawrence Real Estate Board totaled 119 units in December 2024. This was a substantial gain of 41.7% from December 2023.

Home sales were 7.5% below the five-year average and 0.7% above the 10-year average for the month of December.

On an annual basis, home sales totaled 2,592 units over the course of 2024. This was a gain of 16.5% from 2023.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $567,500 in December 2024, a moderate gain of 4.9% compared to December 2023.

The benchmark price for single-family homes was $578,100, increasing by 5.7% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $646,200, a modest gain of 1.4% compared to a year earlier, while the benchmark apartment price was $291,300, down by 5.8% from year-ago levels.

The average price of homes sold in December 2024 was $563,276, up modestly by 1.3% from December 2023.

The more comprehensive annual average price was $562,782, essentially unchanged, up just 0.3% from all of 2023.

The dollar value of all home sales in December 2024 was $67 million, a jump of 43.5% from the same month in 2023.

The number of new listings was up by 13.9% from December 2023. There were 131 new residential listings in December 2024. This was the largest number of new listings added in the month of December in more than five years.

New listings were 12.3% above the five-year average and 13.6% above the 10-year average for the month of December.

Active residential listings numbered 821 units on the market at the end of December, an advance of 40.3% from the end of December 2023. Active listings haven’t been this high in the month of December in more than five years.

Active listings were 80.3% above the five-year average and 38% above the 10-year average for the month of December.

Months of inventory numbered 6.9 at the end of December 2024, down from the 7 months recorded at the end of December 2023 and above the long-run average of 5.5 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.