The latest real estate numbers from the Renfrew County Real Estate Board have been released for the month of May. Home sold across the county totaled 212 units. That’s a gain of 12 sales from May 2022. The average price of homes sold in May 2023 was $467,185, a minor decrease of 1.8 percent from May of last year. Active residential listings numbered 414 units on the market at the end of May, up sharply by 83.2 percent from a year ago.
The dollar value of all home sales in May 2023 was $99 million, increasing by 4.1% from the same month in 2022. The number of new listings saw a gain of 10.1% from May 2022. There were 328 new residential listings in May 2023. New listings were 5.6% above the five-year average and 7.3% below the 10-year average for the month of May.
Active listings were 6.5% below the five-year average and 51.2% below the 10-year average for the month of May. Months of inventory numbered 2 at the end of May 2023, up from the 1.1 months recorded at the end of May 2022 and below the long-run average of 4 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.
(Written by: Kyle Robinson)
