Real estate market continues to rocket; April sets more records

In this June 2019, file photo, a For Sale sign on the front lawn of a home on Second Street West in Cornwall, Ont. (Newswatch Group/Bill Kingston, File)

CORNWALL – The Cornwall and area real estate market continued to smash records in April.

The Cornwall and District Real Estate Board says there were 201 homes sold for nearly $72 million – more than double the number of homes sold in April last year.

In the first four months of this year, 615 homes have changed hands – an 80 per cent increase from the same period last year.

Board President Troy Vaillancourt says the market has been buoyed by a “sustained increase in new listings” in recent months, even though inventory is razor thin with less than a month of inventory available based on the current sales pace.

The average home sale price in April was $357,525 and during the first four months it was $354,613 – nearly 47 per cent higher than the first four months of 2020.

When the April report was released, May was already setting up to be a record month as well.

The board covers Cornwall, Stormont and Glengarry Counties, part of Dundas County and Prescott County (of Prescott-Russell).