The Renfrew County Real Estate Board (RCREB) recently updated their online sales figures* for last month. Their report on local residential sales reads:
- The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totaled 165 units in June 2024. This was down by 12.2 percent from June 2023.
- Home sales were 21 percent below the five-year average and 23.3 percent below the 10-year average for the month of June.
- On a year-to-date basis, home sales totaled 816 units over the first six months of the year. This was an increase of 6.5 percent from the same period in 2023.
- The average price of homes sold in June 2024 was $510,554, a moderate gain of 8.1 percent from June 2023.
- The more comprehensive year-to-date average price was $487,899, increasing by 9.4 percent from the first six months of 2023.
- The dollar value of all home sales in June 2024 was $84.2 million, a decline of 5.1 percent from the same month in 2023.
When considering these figures, it is important to keep in mind that Madawaska Valley is just one region of the County, and indeed that Renfrew County is a “small” market compared to urban centres in the Province. Patricia Scott, Broker of record at Queenswood Real Estate, points out that it takes only one big sale in the Valley to skew the figures, and sometimes that can cause people to jump to unrealistic conclusions about the state of the housing market.
The RCREB reported County residential inventory figures for June 2024 this way:
- The number of new listings fell 11 percent from June 2023. There were 234 new residential listings in June 2024. This was the lowest number of new listings added in the month of June in more than a decade.
- New listings were 11.4 percent below the five-year average and 20.2 percent below the 10-year average for the month of June.
- Active residential listings numbered 516 units on the market at the end of June, an increase of 22.9 percent from the end of June 2023. Active listings haven’t been this high in the month of June in five years.
- Active listings were 32 percent above the five-year average and 32.9 percent below the 10-year average for the month of June.
* Retrieved from https://creastats.crea.ca/board/renf
