The Rideau-St. Lawrence Real Estate Board

Rideau-St. Lawrence Real Estate Board MLS® home sales, new listings moderate in April

The number of homes sold through the MLS® System of the Rideau-St. Lawrence Real Estate Board totaled 125 units in April 2022. This was a large decline of 27.7% from April 2021.

Home sales were 4.3% above the five-year average and 9.2% above the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 319 units over the first four months of the year. This was a notable decrease of 23.9% from the same period in 2021.

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 $550,700 in April 2022, increasing by 19% compared to April 2021.

The benchmark price for single-family homes was $552,300, a gain of 17.7% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $788,500, up sharply by 42.9% compared to a year earlier, while the benchmark apartment price was $325,900, an increase of 29.4% from year-ago levels.

The average price of homes sold in April 2022 was $539,429, up by 9.9% from April 2021.

The more comprehensive year-to-date average price was $540,093, an increase of 17.6% from the first four months of 2021.

The dollar value of all home sales in April 2022 was $67.4 million, a reduction of 20.6% from the same month in 2021.

The number of new listings saw a decline of 18.8% from April 2021. There were 160 new residential listings in April 2022.

New listings were 2.4% above the five-year average and 24.5% below the 10-year average for the month of April.

Active residential listings numbered 102 units on the market at the end of April, a decrease of 16.4% from the end of April 2021. Active listings haven’t been this low in the month of April in more than two decades.

Active listings were 54.6% below the five-year average and 80.3% below the 10-year average for the month of April.

Months of inventory numbered 0.8 at the end of April 2022, up from the 0.7 months recorded at the end of April 2021 and below the long-run average of 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.

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.


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For more information,
please contact:

(613) 342-3103
rideau@bellnet.ca

President
Dana Pearce