CORNWALL – Final numbers from the Cornwall and District Real Estate Board show just how hot the real restate market was in 2020.
Real estate agents sold 1,589 units in 2020 – up almost 10 per cent from 2019.
Moreover, it was how much those agents were getting for those homes. The annual average price in the city and outskirts was $293,162 – 25.5 per cent higher than in 2019.
The real estate market continues to be squeezed for inventory based on the most recent numbers in December 2020.
Board President Helen MacLeod says new listings couldn’t keep pace with the number of homes sold in December. There were 80 new home listings was 88 units sold. The number of active listings was 138, which the board says is the lowest it’s been in more than 30 years.
“These factors are further degrading an already historically low number of active listing and are acting as a constraint on our local market,” MacLeod said.