Housing sales increased across the region last month, however, the average price was down compared to the year before.
The Central Lakes Association of Realtors reports Hastings County experienced a 13% increase in sales, with 128 transactions compared to 113 in November 2023.
The average price saw a modest decline, dropping from $542,897 to $527,354.
Sales in Prince Edward County increased 65%, rising from 20 in November 2023 to 33 in November 2024, though the average price decreased from $874,993 to $720,367.
There was a 56% rise in sales in Northumberland County with 106 transactions last month compared to 68 the previous year.
The average price experienced a slight dip, moving from the November 2023 average price of $753,273 to $741,262.
CLAR President Vicki Sweeney says they expect sales to decrease this month which is typical for this time of year as many individuals choose to postpone real estate transactions until after the holidays.
Sweeney says that two key changes to mortgage rules in Canada are set to take place on December 15 which may provide relief to many Canadians looking to purchase a home in the new year.
There will be an increased price cap for insured mortgages and expanded eligibility for 30-year mortgage amortizations to all first-time home buyers and to all buyers of new builds.
