Renfrew County Real Estate Board

Renfrew County MLS® home sales slightly below average in October

The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totaled 120 units in October 2022. This was a decline of 13% from October 2021.

Home sales were 19.2% below the five-year average and 9.4% below the 10-year average for the month of October.

On a year-to-date basis, home sales totaled 1,518 units over the first 10 months of the year. This was a decrease of 25.6% from the same period in 2021.

The average price of homes sold in October 2022 was $448,264, up by 7.3% from October 2021.

The more comprehensive year-to-date average price was $468,860, an increase of 17.3% from the first 10 months of 2021.

The dollar value of all home sales in October 2022 was $53.8 million, a moderate decrease of 6.7% from the same month in 2021.

The number of new listings edged down 0.6% (one listing) from October 2021. There were 168 new residential listings in October 2022.

New listings were 2.6% below the five-year average and 6.9% below the 10-year average for the month of October.

Active residential listings numbered 345 units on the market at the end of October, an advance of 60.5% from the end of October 2021.

Active listings were 20.7% below the five-year average and 52.2% below the 10-year average for the month of October.

Months of inventory numbered 2.9 at the end of October 2022, up from the 1.6 months recorded at the end of October 2021 and below the long-run average of 6 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 160 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.


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RENFREW COUNTY REAL ESTATE BOARD

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For more information, please contact:
Sue Martin
197 Pembroke St. East
Pembroke, ON K8A 3J6
613-735-5840
eo@rcreb.com

President
Patricia Scott

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