Real estate slowdown continues
Sales and prices both dropped in September, despite falling interest rates
The real estate market continued to slow in September as home sales dropped 27 per cent in Trent Hills and the median price fell 6 per cent to $480,000 from $512,000 in August.
Last month, 13 homes sold in our area — 11 detached, one condo townhouse and one condo apartment — down from 18 in August, according to the Central Lakes Association of Realtors.
There were 57 new listings in September, all detached except for one condo townhouse. So far this year, 159 homes have been sold, 155 detached, one condo townhouse, one condo apartment and two townhouses. The median sales price is $590,000.
The slowing market is reflected in the length of time homes are on the market before selling. In September it was 64 days, up from 48 in August, and well above the yearly average of 43. On average, sellers are getting 95 per cent of their list price when they do sell.
In August, 18 detached homes sold for a median price of $512,500. In July, 12 homes sold but with a median price of $778,250.
Northumberland County reported 116 sales in September with a median price of $639,500. For the year so far, there have been 1,119 sales with a median price of $675,000.
“Inventory and days on market are both up throughout our regions,” said Vicki Sweeney, President of Central Lakes Association of Realtors.
“Home buyers should be encouraged to hear that the average selling price dropped for many areas in our jurisdiction from August to September of 2024 with only a minor increase for the other regions,” she added.
Missed a key name
In a story last Friday about MPP David Piccini coming to town to celebrate funding for the Campbellford & District Curling and Racquet Club, I inadvertently missed a name in the list of people who were in the ribbon-cutting photograph.
Standing just to the left of Piccini in the photo was Dave Martz, president of the CDCRC board, who was instrumental in helping the club survive the COVID shutdown and its return to regular activity.
It’s proof that even a copy editor needs a copy editor. Thanks to the eagle-eyed readers who noticed the omission. I fixed the version posted on the website right away, but didn’t want to fill your inboxes with another email.
You can read all the Trent Hills News stories anytime on the website.
Always bang on , Art ! We recognized Dave M right away & true to fine reporting , you have remedied that slight omission . Many thanks for the continued fine reporting of all things relating to
‘ Trent News !