Home sales in the Quinte region returned to pre-pandemic levels last month.
The Quinte and District Association of Realtors reports 251 units were sold in March, down 35.5% from the same month in 2022.
Still it was the highest single month total since summer of last year.
The average price of homes sold across the region last month was $632,951, down 16.3% from March 2022.
Prince Edward County remains the most expensive area to purchase a home with the average price increasing almost 22.5% from last year to $974,922.
In all other areas the average price decreased.
Association President Natasha Huizinga says overall inventory continues to rise and is currently above the five year average.
Active residential listings numbered 770 units on the market at the end of March, more than double the levels from a year earlier, surging 145.2% from the end of March 2022.
Huizinga says only time will tell but rising demand may lead to increased market activity as the traditionally busy spring market gets underway.
Year-to-date, sales were down 38% over last year with 590 units sold over the first three months of this year.
Home sales were 26.4% below the five year average and 19.3% below the 10 year average for the month of March.
An invitation only real estate and housing summit this Friday will provide local realtors with an in-depth update on the state of the housing market in Quinte region.
