New and experienced home buyers may still experience sticker shock in the near future, if the Renfrew County Real Estate Board’s numbers for March are any indication.
The real estate board tells myFM that the average cost of a house through their MLS system was just over $500,000 in March, an jump of nearly 25% over the same month last year.
Even after expanding the scope to the first three months of the year, the average price of a home went up by over 30% against the same time frame in 2021.
Demand continues to outpace supply as new home listings were down nearly 30% over last year. Active listings also saw a sharp decrease, down 27%.
The real estate board let myFM know that active listings haven’t been this low in the month of March in two decades.
(written by Kasey Egan)
