Cornwall area home sales at ‘unstoppable pace’

In this January 2021, file photo, the Cornwall and District Real Estate Board office on Eleventh Street West in Cornwall, Ont. (Cornwall Newswatch/Bill Kingston, File)

CORNWALL – While more people in Cornwall and area are putting their houses on the market, it’s doing almost nothing to quell the appetite of buyers with new listings being snapped up.

“Sales activity continued at its unstoppable pace in May, coming in just five sales shy of the all-time monthly record set back in May 2017,” Cornwall and District Real Estate Board President Troy Vaillancourt said.

There was a “resurgence of new listings” with 253 homes in May. There were 199 sales – a 67 per cent jump from May 2020. That all but evaporated any gains in the region’s record low sales inventory with months of housing stock moving from 0.9 in April to 1.0 in May.

“It’s no surprise then that price growth continues in the strong double digits,” Vaillancourt added.

The year-to-date average price was $353,556 – up 42 per cent from 2020. May’s average sale price was $349,814, a nearly 30 per cent jump from that month in 2020.

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

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