Despite a supply shortage, it was the third best March on record for home sales across the Quinte region.
Quinte & District Association of Realtors President Valerie Miles reports 392 units were sold last month, an almost 33% decrease over March 2021.
Miles says that number is still impressive considering there’s very little supply available on the market.
There were 306 active residential listings on the market at the end of March, down 23% from the end of the same month last year.
According to Miles, active listings haven’t been this low in the month of March in more than three decades.
The average price of homes sold was $756,008, up by 23.3% from a year ago.
On a year-to-date basis, home sales totalled 949 units over the first three months of the year, decreasing by 10.2% from the same period in 2021.
The year-to-date average price was $757,018, an increase of 26.9% from the first three months of 2021.
The dollar value of all home sales in March 2022 was $296.4 million, a reduction of 17.1% from 2021.
