Slow real estate market
The regional real estate market has been sluggish with sales volumes hitting an 18-year low, however, the average price of homes sold has increased.
Residential sales in the area served by the Cornwall and District Real Estate Board totaled 109 units in September, a decrease of 14.2 per cent from August of 2017.
In the first nine months of the year, home sales totalled 1,054 units, a drop of 5.7 per cent from the same period in 2017, marking the slowest start to any year since 2000.
“A lot of the ups and downs in sales activity on a year-over-year basis in recent months have really just been a retelling of how volatile activity was last year,” said D.A. MacMillan, President of the Cornwall Real Estate Board.
“Sales have been steadier this year, although the September sales figure was on the low side for that month.”
The average price of homes sold in September 2018 was $213,012. edging up 2.1 per cent from September 2017.
The more comprehensive year-to-date average price was $218,530, up 4.4 per cent from the first nine months of 2017.
There were 185 new residential listings in September 2018, up 3.4 per cent on a year-over-year basis. Yet, new supply in September was still below the same month in every other year going back to the year 2003.
Active residential listings numbered 570 units at the end of September. This was a decrease of 10.1% from the end of September 2017 and was the lowest inventory reading on record for this time of year.
The dollar value of all home sales in September 2018 was $23.2 million, decreasing by 12.4% from the same month in 2017.
The real estate board serves an area that encompasses Glengarry, Stormont, Prescott, Cornwall and part of Dundas.
WECYCLING: “Good riddance -- stuff we don't need,” said Alexandria's Phil Ménard with a chuckle dropping off an old TV at Laggan School’s waste electronics pick-up Saturday. With him, from left, are volunteers Jack Suter from McCrimmon Corners, Ronan and Callum Nystrom from Glen Sandfield who were among the students who braved the drizzly weather to fill a container with junk. Overseeing the students and lifting the big stuff was parent volunteer Mark Lavye from Alexandria whose daughter Piper is in 2nd Grade at Laggan.