Renfrew County home sales come in one sale shy of February record
Residential sales activity recorded in Renfrew County totaled 113 units in February 2020. This was a 41.3% jump from February 2019 and was just one sale shy of the February record set back in 2011.
On a year-to-date basis, home sales totalled 187 units over the first two months of the year, an increase of 26.4% from the same period in 2019.
The average price of homes sold in February 2020 was $277,877, rising 10.4% from February 2019.
The more comprehensive year-to-date average price was $263,640, up 6.3% from the first two months of 2019.
There were 163 new residential listings in February 2020. This was an increase of 20.7% on a year-over-year basis.
Even so, overall listings remain historically low. Active residential listings numbered 452 units at the end of February, down 23.5% from the end of February 2019.
Months of inventory numbered 4 at the end of February 2020, down from the 7.4 months recorded at the end of February 2019 and a record low 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.
The dollar value of all home sales in February 2020 was $31.4 million; a large 55.9% increase from the same month in 2019. This was a new record for the month of February.
Sales of all property types numbered 128 units in February 2020, up 42.2% from February 2019. The total value of all properties sold was $35.5 million, rising 62.5% from February 2019.
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
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197 Pembroke St. East
Pembroke, ON K8A 3J6