When looked at as “year-to-date”, there has been a 4.7% increase in the number of homes sold by the Renfrew County Real Estate Board over the first seven months of 2024, at 961 units.
But July continues a downward trend evidenced last month: the 145 units in July 2024. This was down by 4.6% (seven sales) from July 2023, and 14.8% below the five-year average for the month of July.
The average price of homes sold in July 2024 was $454,211, a small gain of 1.6% from July 2023.
The dollar value of all home sales in July 2024 was $65.9 million- a modest decline of 3.1% from the same month in 2023.
There were 225 new residential listings in July 2024; that’s 12 listings more than July last year.
It’s a buyer’s delight- as new listings increased by 5.6% over July of 2023 for a total of 516 units on the market at the end of July.
Active listings haven’t been this high in the month of July in five years.
Months of inventory numbered 3.6 at the end of July 2024.
The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
By Rick Stow
