We think every home owner is somewhat curious about how the local market is performing whether it be a downward trend or upward. Here is a summary of the 2019 Renfrew County Real Estate statistics.
Let’s start with volume of sales. Laurentian Valley saw the largest increase in volume of sales up 49.4% compared to 2018. While Griffith saw the largest decrease in sales down 60% compared to 2018. Renfrew County as a whole saw 1854 properties sold through the MLS, that’s up 8.2% compared to 2018. Major centres throughout the county like Pembroke saw 245 sales in 2019, up 7% compared to 2018. Petawawa saw 467 sales, up 23.5% compared to 2018. Renfrew with 134 sales, up 3.9% compared to 2018. Bonnechere Valley saw 67 sales, up 19.6% compared to 2018.
Now the interesting statistic, average prices. The area with the largest increase in average sale price was Whitewater Region, with $313,631 that’s up 45.2% compared to 2018. Whitewater Region provides a wide range of properties, the major contributor to the price variance is the Ottawa River which flows through Whitewater Region and 2019 experienced some high end waterfront property changing hands in Whitewater Region. This factor alone can produce a statistic that requires an explanation. Major centres throughout the county like Pembroke saw an average sale price of $197,900 up 4.9% compared to 2018. Petawawa saw an average price of $293,546 up 3.4% compared to 2018. Renfrew’s average price was $226,209 up 10.6% compared to 2018. Bonnechere Valley saw an average price of $169,156 which was a decrease of 14% compared to 2018. Bonnechere Valley experienced a very exciting year in 2019 where we saw a lot of first time buyers coming into the market, and/or new families relocating into Bonnechere Valley. More starter homes sold in Bonnechere Valley providing a lower average price which we view as a positive observation for the area. More young buyers are starting families here and calling Bonnechere Valley home. Whereas the waterfront scene in Bonnechere Valley was a little more quiet compared to previous years. Neighbouring North Algona Wilberforce saw an average price of $287,949 up 14.8% compared to 2018. The lakes in North Algona Wilberforce did well in 2019 producing some impressive sales stats for the municipality, which is the major driving force of influence for average price in North Algona Wilberforce. Renfrew County as a whole saw an average price of $260,380 for 2019, which is up 4.3% compared to 2018. Overall, home sales were very well in 2019, although inventory levels were at all time lows throughout the year. This forced a somewhat “Sellers Market” as buyers didn’t have as many options to pick from compared to previous years. This same trend has continued into 2020, as of January 14, 2020 there are 433 houses for sale in Renfrew County.
In summary, 2020 looks like it will be a great year for home sales again in Renfrew County. If you have been considering making a move with Renfrew County, please give our office a call at 613-628-1900. One of our experienced Realtors will be happy to answer your questions and get you on the right track to make your move successful. Better yet, drop in and talk to us in person, we are located at 131-1 Queen Street Eganville. Also, if you haven’t already, check out our website at http://signatureteamrealty.ca. From all of us at Signature Team Realty we wish you all the best in 2020!