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COVID-19 has fewer impacts on local housing market

A significantly lower number of housing listings available are resulting in a tight housing market, however the average sale price continues to show a modest increase.

“The May 2020 numbers reflect the continued challenging times we are living in, with the local economy modestly less impacted by the COVID-19 pandemic than the larger surrounding centers,” said Heather Plane, Quinte & District Asociation of Realtors, in her monthly report.

Realtors and the public have been able to carry on with real estate transactions with social distancing and working remotely.

Plane notes May monthly dollar sales for residential listings resulted in a decrease of 32.2 per cent but average sale prices showed a 9.2 per cent increase over 2019 with the May 2020 price of $406,608.

There were 241 residential sales for May 2020, down 37.9 per cent from 388 sales for 2019. The number of active residential listings currently sits at 737 units compared to 968 units in 2019 resulting in a reduction of 23.9 per cent.

Meanwhile, the Quinte & District Association of Realtors this week provided a $4,200 donation to the Gleaners Food Bank through the Ontario Realors Care Foundation to help those facing food insecurity.

In addition to its own food bank, Gleaners in Belleville operates the Tri-County Warehouse that serves seven other local area food banks – including Picton’s Care and Share and the Wellington Storehouse Food Bank, as well as food banks in Marmora, Deseronto, Bancroft, Northbrook and Stirling.

“Local Realtors are involved within our local communities on numerous levels and see the challenging reality many are living within these days,” said Plane. “Basic needs are being stretched to the limit and the local food banks are also seeing their resources tighten. We are pleased to be able to assist our local communities with this financial donation, with the hope of easing a burden many families worry about.”

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