Home sales slowed last month
Home sales slowed last month
But construction starts on Camelot Village development
Just twelve homes sold in Trent Hills last month as the market slowed, but prices rose, with a median price of $778,250, says the Central Lakes Association of Realtors.
The average sales price was 96 per cent of the listing price and on average properties sold after 30 days on the market. During the month, 61 properties were listed for sale and there were 154 active listings.
So far this year, 128 homes have sold in Trent Hills – 126 detached and two townhouses – with a median price of $612,500.
In June, 20 homes sold in Trent Hills for an average of $712,688, up 11.7 per cent from a year ago, the association said.
“Almost all of our regions are experiencing an increase in sales compared to July 2023, said Vicki Sweeney, CLAR President. “However, there is a moderate month-over-month decrease in sales in most areas, with active listings on the rise. Although the Bank of Canada has reduced the interest rate, it appears buyers are waiting for further cuts.”
The report shows Northumberland County as a whole had a 46 per cent increase in sales, with 111 transactions in July 2024 compared to 76 in July 2023. The average price decreased by 2.7 per cent, from $754,547 to $734,111.
Construction starts in Camelot Village
For the past couple of years one of the most frequent real estate questions in the area has been: What’s going on with that subdivision on Bridge Street on the way out of town? The roads are in but there’s no sign of construction.
Now, that’s changed as Alziadeh Land Development Corp., owned by Emad Alziadeh, has started construction on a model home in the subdivision, known as Camelot Village. It’s expected it will take a decade to build all the properties planned on the 50-acre site.
It’s been six years since Alziadeh announced the development. Things have moved relatively quickly given the scale of the project and the changing economic climate.