Buying a home in the area is still costing people a pretty penny.
The Renfrew County Real Estate Board’s July report says $68.3 million was spent on local real estate last month, as the year-to-date average price of a Renfrew County home going into August was $446,709.
That didn’t stop 153 sales from happening last month, which was over a third more than what sold over the month last year and helped the local market regain ground after a sluggish start to 2023.
Interested buyers saw their options hold mostly steady, as a sharp 15.7% increase in active listings to 406 units was tempered by new listings flattening out at 213 units compared to July of last year.
What has seen a drop are year-to-date sales, as 925 sold signs in the ground still lag 16.2% behind this time in 2022.
At the current rate of activity, the real estate board says it would take 2.7 months to sell the entire inventory in their system.
(written by Kasey Egan)
