Cornwall and District Real Estate Board

The number of homes sold through the MLS® System of the Cornwall and District Real Estate Board totaled 138 units in December 2024. This was up by 16.9% from December 2023.

Home sales were 4.8% below the five-year average and 2.8% above the 10-year average for the month of December.

On an annual basis, home sales totaled 3,040 units over the course of 2024. This was an increase of 14.3% from 2023.

“Sales activity recorded a sharp upswing over the course of 2024, ending the year back at typical levels,” said Vicki Vanderveen, President of the Cornwall and District Real Estate Board. “Much of this activity was supported by higher levels of listings coming onto the market from sellers with renewed motivation to move their properties and capitalize on buyers who had previously been cautiously waiting on the sidelines. With interest rates expected to continue moving gradually lower and a new set of mortgage rule changes that should prompt more demand we are heading into 2025 on very solid footing.”

The average price of homes sold in December 2024 was $492,412, a moderate gain of 6.9% from December 2023.

The more comprehensive annual average price was $495,662, increasing by 1.3% from all of 2023.

The dollar value of all home sales in December 2024 was $68 million, a gain of 25.1% from the same month in 2023.

The number of new listings was up by 5.2% (eight listings) from December 2023. There were 163 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 9.5% above the five-year average and 5.7% above the 10-year average for the month of December.

Active residential listings numbered 1,017 units on the market at the end of December, a substantial increase of 39.5% 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 87.2% above the five-year average and 32.4% above the 10-year average for the month of December.

Months of inventory numbered 7.4 at the end of December 2024, up from the 6.2 months recorded at the end of December 2023 and above the long-run average of 6.4 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