Cornwall and District Real Estate Board

The number of homes sold through the MLS® System of the Cornwall and District Real Estate Board totaled 201 units in March 2025. This was a substantial decline of 21.2% from March 2024.

Home sales were 27.1% below the five-year average and 18.5% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 579 units over the first three months of the year. This was a modest decline of 2.5% (15 sales) from the same period in 2024.

“Home sales and new listings both dropped sharply in March in the face of an escalating trade war between Canada and the U.S. and its potential implications across all domestic industries exporting to our largest trade partner,” said Vicki Vanderveen, President of the Cornwall and District Real Estate Board. “With the recent U.S. tariff announcements, no new actions were imposed on Canada beyond those already affecting steel and aluminum and the ones just announced on auto imports. This development could ease concerns among consumers fearing harsher measures. However, market uncertainty may persist as buyers deliberate over their forthcoming decisions.”

The average price of homes sold in March 2025 was $521,975, up by 7% from March 2024.

The more comprehensive year-to-date average price was $518,415, an increase of 9.1% from the first three months of 2024.

The dollar value of all home sales in March 2025 was $104.9 million, a big reduction of 15.7% from the same month in 2024.

The number of new listings decreased by 9.1% from March 2024. There were 420 new residential listings in March 2025.

New listings were 4% below the five-year average and 3.7% below the 10-year average for the month of March.

Active residential listings numbered 1,106 units on the market at the end of March, an advance of 31.2% 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 75.1% above the five-year average and 23.3% above the 10-year average for the month of March.

Months of inventory numbered 5.5 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 4.2 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.