Renfrew County home sales and new listings slow as pandemic forces market to pause
Residential sales activity recorded in Renfrew County totaled 94 units in April 2020. This was a decline of 50.5% from April 2019. This was the lowest level of sales for the month since the early 1990’s as home buyers and sellers follow public health guidelines.
On a year-to-date basis, home sales totalled 424 units over the first four months of the year. This was a decrease of 10.2% from the same period in 2019.
The average price of homes sold in April 2020 was $298,769, edging up 3.8% from April 2019.
The more comprehensive year-to-date average price was $284,114, up by a similar 7.8% from the first four months of 2019.
There were 141 new residential listings in April 2020. This was a decrease of 67% on a year-over-year basis.
Active residential listings numbered 471 units at the end of April; this was a drop of 43.3% from the end of April 2019. This was the lowest overall supply for the month in over a decade.
Months of inventory numbered 5 at the end of April 2020, up from the 4.4 months recorded at the end of April 2019 and below the long-run average of 6.3 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.
The dollar value of all home sales in April 2020 was $28.1 million; declining by 48.6% from the same month in 2019.
Sales of all property types numbered 107 units in April 2020; this was a large decline of 49.3% from April 2019. The total value of all properties sold was $29.4 million, declining significantly by 48% from April 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