Renfrew County home prices to remain at same level, says real estate board president
The Renfrew County housing market seems to be correcting itself from the record high sales of last year., according to the President of the County’s Real Estate Board.
Since last year the housing market has cooled off, but President Andrew Brotton says home prices will probably stay at their high level for the foreseeable future. In June, the average price for a home in Renfrew County was $414,783, up almost 40 percent from a year ago. He predicts that the price will stay at this plateau, and shows no indication of dropping.
In addition, demand is still climbing faster than other parts of the province as rural houses are still in high demand. Brotton also says there was no indication of a massive home supply increase. And while the number of listings remains relatively unchanged since last year, the number of available houses is still decreasing. Board statistics show that there has been a 10 percent drop in listings compared to the 10-year average.