Record home sales continue in the region, along with low inventory

The Quinte and District Association of Realtors reports January saw an increase in real estate listings to 313 but most of the inventory sold quickly because of “insatiably strong” demand.

The average price of the 252 homes sold in January was a record $736,000 – up 31 per cent from January 2021. The benchmark price (half the houses sold was lower, and high higher) was $576,000, also up from last year.

In Prince Edward County, 65 homes sold, compared to 34 last January. The average price was $684,921 compared to $771,248 a year ago.

“The momentum in sales activity didn’t just roll over from last year, it appears to have actually picked up steam. January sales recorded the first ever figure above 250 in this month, which is even more impressive when you consider that this was also the first January to ever crack 200 sales,” said Valerie Miles, President of the Quinte and District Association of Realtors. “A large part of the jump in sales can be attributed to the rebound in new listings, which came in at average levels in January. However, with demand being as insatiably strong as it is at the moment, most of these new listings were snapped up and available inventory levels at the end of the month were down to almost the lowest ever.”