Lack of listings cool off summer Cornwall home sales

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 – Regional real estate board figures suggest the housing market cooled off a bit this summer partly due to a lack of homes on the market.

Cornwall and District Real Estate Board numbers show 170 units were sold in August, down nearly 10 per cent from the same month last year. But it was still the second best August in history.

The number of year-to-date sales is 1,343 units, which is up 33 per cent from the same period in 2020.

“The number of newly listed properties was trending well below average for this time of year and as a result overall inventory fell month over month for the first time since January,” President Troy Vaillancourt said in a news release. Average listing numbers for August were 70 per cent below the 10-year average.

The average sale price for the first eight months of this year was $351,987, up 26 per cent from the same period last year.

Market results for September are expected in the next couple of weeks.

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