Editor’s note: A media release this afternoon from the Renfrew County Real Estate Board outlines the effect that COVID-19 has had on the local market.
Residential sales activity recorded in Renfrew County totaled 94 units in April 2020. This was a decline of 50.5 percent from April 2019. This was the lowest level of sales for the month since the early 1990s as home buyers and sellers follow public health guidelines.
- On a year-to-date basis, home sales totalled 424 units over the first four months of the year. This was a decrease of 10.2 percent from the same period in 2019.
- The average price of homes sold in April 2020 was $298,769, edging up 3.8 percent from April 2019.
- The more comprehensive year-to-date average price was $284,114, up by 7.8 percent from the first four months of 2019.
- There were 141 new residential listings in April 2020. This was a decrease of 67 percent on a year-over-year basis.
- Active residential listings numbered 471 units at the end of April; this was a drop of 43.3 percent from the end of April 2019. This was the lowest overall supply for the month in over a decade.
- Months of inventory numbered 5 at the end of April 2020, up from the 4.4 months recorded at the end of April 2019 and below the long-run average of 6.3 months for this time of year. 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.
- The dollar value of all home sales in April 2020 was $28.1 million; declining by 48.6 percent from the same month in 2019.
- Sales of all property types numbered 107 units in April 2020; this was a large decline of 49.3 percent from April 2019. The total value of all properties sold was $29.4 million, declining significantly by 48 percent from April 2019.
Martin,S. Renfrew County Real Estate Board(2020,May26) Renfrew County home sales and new listings slow as pandemic forces market to pause [media release]
