House Supply in Renfew County At Lowest Level in Decade, says Real Estate Board

The Renfrew County Real Estate Board says that the number of homes up for sale is struggling to meet demand.

Only 486 homes were listed for sale in the county this month. This is a drop of nearly 30% since this time last year. The board says this was the lowest level of supply at this time in over a decade. They say that with no new listings, the RCREB could blow through their inventory in 4 months, as opposed to 5 months this time last year.

Meanwhile demand for homes in the county is still growing. While November sales were down from this point last year by 6%, the board says that with 118 units sold, it was still one of the best Novembers on record. They also say that to date, just under 1800 units were sold.

The price of homes in Renfrew County is slowly creeping up as well. The Renfrew County Real Estate Board says that the average price of a home sold in November was around $265,000. This is an increase of almost 11% since this time last year. Home sales in November totalled 31.3 million dollars, a new record for the month of November.