The low number of houses available on the market in Renfrew County has lifted the average selling price to a new record.
In the month of July the Renfrew County Real Estate Board says the average price of homes sold was a record $309,613, up over 20% from the same time period last year.
The local real estate board says new listings have not rebounded as strongly as home sales creating an imbalance of supply and demand, pushing the market further into seller’s territory.
At the end of July there was only 361 active residential listings, down almost 50% (49.7%) from July of 2019, marking a 15-year low for overall supply for the month.
The Renfrew County Real Estate Board says there was 278 residential units sold in July of 2020 setting a sales record for the month and jumping 36.3% from the same time last year.
The dollar value of all home sales in July was $86.1-million also setting a record for the month.
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