Rideau-St. Lawrence Real Estate Board MLS® home sales drop in March, overall supply levels continue to rise
The number of homes sold through the MLS® System of the Rideau-St. Lawrence Real Estate Board totaled 164 units in March 2025. This was a substantial decline of 21.9% from March 2024.
Home sales were 28.2% below the five-year average and 21.3% below the 10-year average for the month of March.
On a year-to-date basis, home sales totaled 443 units over the first three months of the year. This was a modest decline of 1.1% (five sales) from the same period in 2024.
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 $510,000 in March 2025, a small gain of 2.6% compared to March 2024.
The benchmark price for single-family homes was $522,800, increasing by 2.7% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $312,900, a modest decline of 1.3% compared to a year earlier, while the benchmark apartment price was $306,100, up by 9.2% from year-ago levels.
The average price of homes sold in March 2025 was $573,586, up modestly by 2% from March 2024.
The more comprehensive year-to-date average price was $556,881, a minor increase of 1.4% from the first three months of 2024.
The dollar value of all home sales in March 2025 was $94.1 million, a big reduction of 20.3% from the same month in 2024.
The number of new listings increased by 8.5% from March 2024. There were 407 new residential listings in March 2025.
New listings were 4.3% above the five-year average and 11.5% above the 10-year average for the month of March.
Active residential listings numbered 999 units on the market at the end of March, an advance of 42.1% from the end of March 2024. Active listings haven’t been this high in the month of March in more than five years.
Active listings were 77.8% above the five-year average and 39.1% above the 10-year average for the month of March.
Months of inventory numbered 6.1 at the end of March 2025, up from the 3.3 months recorded at the end of March 2024 and above the long-run average of 3.9 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
The Rideau-St. Lawrence Real Estate Board was incorporated in January 1954 to provide an information exchange service for Members. That exchange service has evolved into today's modern MLS® system (Multiple Listing Service®), one of the most effective real estate marketing systems in North America. The national website is www.REALTOR.ca. The Rideau-St. Lawrence Real Estate Board covers a large geographic area that includes the United Counties of Leeds & Grenville, Lanark and part of Dundas County in Eastern Ontario.
For more information,
please contact:
(613) 342-3103
rideau@bellnet.ca
Chris Wiltshire
