Both the numbers of homes available for sale, and the prices asked for them took a plunge in November, according to statistics released by the Renfrew County Real Estate Board.
84 units changed hands in November 2022- a sharp drop of 39.1% from November 2021.
The average price of homes sold in November 2022 was $443,889, a decrease of 5.5% from November of the previous year.
For those who look at long-term trends, home sales were 30.8% below the five-year average and 23.8% below the 10-year average for the month of November.
The more comprehensive year-to-date average price was $467,551, a sizable gain of 15.7% from the first 11 months of 2021.
The number of new listings saw a sharp decrease of 11.2% from November 2021. There were 127 new residential listings in November 2022.
By Rick Stow
