Rideau-St. Lawrence Real Estate Board MLS® home sales, new listings continue to improve in June
The number of homes sold through the MLS® System of the Rideau-St. Lawrence Real Estate Board totaled 104 units in June 2024. This increased by 8.3% (eight sales) from June 2023.
Home sales were 14.2% below the five-year average and 21.8% below the 10-year average for the month of June.
On a year-to-date basis, home sales totaled 480 units over the first six months of the year. This was a gain of 11.4% from the same period in 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 $559,900 in June 2024, essentially unchanged, up just 0.5% compared to June 2023.
The benchmark price for single-family homes was $570,600, a slight gain of 0.8% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $618,600, edging up 0.7% compared to a year earlier, while the benchmark apartment price was $292,100, a modest decline of 1.2% from year-ago levels.
The average price of homes sold in June 2024 was $525,164, down modestly by 1.3% from June 2023.
The more comprehensive year-to-date average price was $500,560, essentially unchanged, down just 0.8% from the first six months of 2023.
The dollar value of all home sales in June 2024 was $54.6 million, a moderate gain of 6.9% from the same month in 2023.
The number of new listings saw a substantial gain of 38.1% from June 2023. There were 192 new residential listings in June 2024.
New listings were 6.3% above the five-year average and 8.2% below the 10-year average for the month of June.
Active residential listings numbered 366 units on the market at the end of June, an advance of 57.1% from the end of June 2023. Active listings haven’t been this high in the month of June in five years.
Active listings were 57.8% above the five-year average and 20% below the 10-year average for the month of June.
Months of inventory numbered 3.5 at the end of June 2024, up from the 2.4 months recorded at the end of June 2023 and above the long-run average of 3.4 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
Andrea Denison
