The real estate market in Renfrew County has seen a dramatic cooling.
The Renfrew County Real Estate Board reports that house sales dropped by nearly 26 percent over this time last year. Home sales were 3.9 percent below the five-year average for August.
However, despite the drop in sales, home prices remained high and inventory remained low. The average home sold for a record $425,000, almost a 30 percent gain from last year. In addition, the number of homes listed on the market was the lowest in five years for the month of August.
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Home sales are still on track to beat out last year, with a 13 percent increase from August 2020.
