Renfrew County MLS® home sales return to historically average levels in August
The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totaled 183 units in August 2021. This was down sharply by 25.6% from August 2020 but still managed to post the third best level for this month on record.
Home sales were 3.9% below the five-year average and 13.1% above the 10-year average for the month of August.
On a year-to-date basis, home sales totaled a record 1,708 units over the first eight months of the year. This was an increase of 13% from the same period in 2020.
The average price of homes sold in August 2021 was a record $425,499, a sizable gain of 29.5% from August 2020.
The more comprehensive year-to-date average price was $396,778, a significant gain of 32.2% from the first eight months of 2020.
The dollar value of all home sales in August 2021 was $77.9 million, was a modest decline of 3.6% from the same month in 2020.
The number of new listings was down by 6.5% from August 2020. There were 232 new residential listings in August 2021. This was the lowest number of new listings added in the month of August in more than five years.
New listings were 4.8% below the five-year average and 6.1% below the 10-year average for the month of August.
Active residential listings numbered 312 units on the market at the end of August, decreasing 10.6% from the end of August 2020. Active listings haven't been this low in the month of August in more than 15 years.
Active listings were 55.2% below the five-year average and 67.2% below the 10-year average for the month of August.
Months of inventory numbered 1.7 at the end of August 2021, up from the 1.4 months recorded at the end of August 2020 and below the long-run average of 6.5 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
Our mission is to provide leadership and support to the members of the Renfrew County Real Estate Board in their pursuit of professional excellence.
The Renfrew County Real Estate Board (RCREB) was formed in 1975 and is a trade association with approximately 150 registered Brokers and Salesperson members in Renfrew County. Members of the Board are also members of the Canadian Real Estate Association (CREA) and the Ontario Real Estate Association (OREA) and as such are entitled to use the REALTOR® trademark.
RENFREW COUNTY REAL ESTATE BOARD
For more information,
197 Pembroke St. East
Pembroke, ON K8A 3J6