Central Lakes Association of REALTORS®

The Central Lakes Association of REALTORS® (CLAR) President Vicki Sweeney, reported the latest real estate statistics for CLAR’s regional area.

“August’s statistics for our region show a diverse market with varying trends across our areas," said Vicki Sweeney, President of the Central Lakes Association of REALTORS®. "The recent reduction in the Bank of Canada’s interest rate to 4.25%, will provide some relief to home buyers and should stimulate activity in the market as interest rates continue to trend lower this year. The average price adjustments we’ve seen from July to August reflect the unique characteristics of each area, and we encourage both buyers and sellers to connect with a local REALTOR® to navigate these market conditions.”

In August 2024, the Durham region reported 709 sales with an average price of $907,997 a decrease from 776 and $930,781 in August of 2023. However, Active listings increased 56% from 1,414 in August 2023 to 2,200 in August 2024.

Hastings region experienced a 9.9% increase in sales from 163 in August 2023 to 178 in August 2024. The average price rose by 4.2%, from $532,764 to $555,062 over the same period.

Kawartha Lakes saw a 9.8% increase in sales, from 102 in August 2023 to 112 in August 2024. The average price also increased by 2.6%, from $708,006 to $726,519 over the same time frame.

Northumberland County reported 115 sales with an average price of $705,752 in August 2024, down from 124 sales with an average price of $734,111 in August 2023. Active listings showed a notable increase of 46% from 440 to 642 over the same period.

Peterborough region witnessed a significant 56% increase in sales, from 97 in August 2023 to 160 in August 2024. However, the average price decreased from $753,848 to $656,899 over the same time frame.

Prince Edward County observed a 3.7% increase in average price, from $779,102 in August 2023 to $807,648 in August 2024, although the number of sales decreased from 43 to 31.

CLAR Chief Executive Officer, Wendy Giroux commented, “As CLAR representatives continue to advocate all levels of government we wish our former MPP, Todd Smith, well in his new role. He was a champion for REALTORS®, and we look forward to working with whomever is elected on September 19th.”