Could the local real estate market finally be waking up from its COVID slumber?
The Renfrew County Real Estate Board says just over $91 million went into buying local homes in June, as 191 homes sold last month, a 13% increase compared to the same month in 2022.
Overall, the market is still underperforming by 22% compared to last year, as a slow start in the first half of 2023 has led to just 772 units sold in total.
More options for homebuyers are steadily entering the market, however, with 263 new listings last month, just a few under the same time last year, and the 418 active listings marked a 43.6% jump against last month and the most on hand in June since 2020.
There is more choice on the market than last year, with forty-three-point-six percent more homes up for sale at 418 units.
The average cost to buy a home in Renfrew County this year dipped 8.3% in June to $446,759.
(written by Kasey Egan)
