Buying a home in Renfrew County remains expensive, but prices are cooling off.
The Renfrew County Real Estate Board’s latest numbers tell the tale: the average price of a house through their system for the first two months of the year was around $406,481, down 18.1% compared to that same time span in 2022.
For the month of February on it’s own, the average price of a home was $393,941, down 21.4% from last year when the local housing market hit record highs with an average of more than $500,000.
Just 63 homes were sold in total for the month of February, down 47.1% from last year and 38.2% under the five-year average. New listings continue to plummet as 111 homes went on the market last month, the lowest number for February in more than three decades.
Despite that, active listings were actually up in the Renfrew County area with 233 homes on the market at the end of February, an increase of nearly 138 percent.
The dollar value of all home sales in February 2023 was $24.8 million, a substantial reduction of 58.4% from the same month in 2022.
(written by Kasey Egan)