CENTRAL LAKES ASSOCIATION OF REALTORS® REPORT MAY HOUSING STATISTICS

The Central Lakes Association of REALTORS® (CLAR) President Vicki Sweeney, reported the latest real estate statistics for CLAR’s regional area.

Vicki Sweeney, CLAR President noted, “As we come to the end of spring, we are still seeing an active market. Average prices are on the rise across all regions, and there is a noticeable increase in active listings, indicating a growing interest among homeowners to sell their properties.”

In May 2024, the Durham Region recorded an average price of $954,942, slightly down from $989,331 in May of 2023. However, there was a significant uptick in activity, with an 84% increase in active listings and a 24% increase in new listings during the same period.

Hastings County saw properties spending an average of 14 days on the market, with an average price of $572,707, slightly lower than the previous years average price of $590,727. Active listings increased from 680 to 772 over the same timeframe.

The Kawartha Lakes region experienced a 9% increase in average price, reaching $852,273 compared to $781,873 in May 2023. Active and new listings also saw an increase from 261 to 549 and 293 to 341 respectively.

Northumberland County witnessed an increase in average price from $719,535 in May 2023 to $747,359 in May of 2024. Additionally, the number of active listings increased by 70% from 340 to 579 from May 2023 to May 2024.

Peterborough Region observed a 24% increase in sales, rising from 162 in May 2023 to 201 in May 2024, coupled with a slight price increase from $723,155 to $737,942 during the same period.

Prince Edward County reported 31 sales with an increase in average price of $802,749 in May 2024 compared to an average price of $755,005 in May of 2023. Active listings also increased from 232 to 315 over the same time frame.

“CLAR is optimistic about the agreement between the Federal and Provincial governments on a revised action plan that will unlock $357 million of federal funding under the National Housing Strategy. Solving the housing crisis in Canada will require a team effort at all levels and CLAR will continue to lobby the government to prioritize housing.” stated CLAR CEO Wendy Giroux.