Home sales in the County of Renfrew have started to slow, likely sparked by the rapid rise in mortgage rates according to the local Real Estate Board. The number of homes sold through the local MLS System totaled 201 units in May 2022. This was a large decline of 22.7 percent from May 2021. The average price of homes sold last month was $475,056, a gain of 21.5 percent from last year. The board also mentions that active listings haven’t been this low in the month of May in two decades. On a year-to-date basis, home sales totaled 843 units over the first five months of the year. This was a substantial decline of 26.4 percent from the same period in 2021.
(Written by: Kyle Robinson)