Renfrew County homes reach all time high price

RENFREW COUNTY – Scarce supply has led to Renfrew County homeowners getting record selling prices in the month of July.

In the month of July the Renfrew County Real Estate Board (RCRESB) says the average price of homes sold was a record $309,613, up more than 20 per cent from the same time period last year. 

The local real estate board says new listings have not adequately filled demand as home sales rise creating an imbalance of supply and demand, pushing the market further into seller’s territory. 

At the end of July there was only 361 active residential listings, down almost 50 per cent from July of 2019, marking a 15-year low for overall supply for the month. 

The RCRESB says there was 278 residential units sold in July of 2020 setting a sales record for the month and jumping 36.3% from the same time last year. 

The dollar value of all home sales in July was $86.1 million also setting a record for the month. 

To view the REREB report, click here.