The Quinte and District Association of Realtors says it’s been a challenging start to the year as far as property sales go locally.
March dollar sales for all property are down almost 30% from where they were during the same month last year, to more than $98.8 million, from over $140.4 million.
Home sales also saw a drastic 26.5% drop in dollar amounts with a little more than $88.1 million sold last month, compared to almost $120 million in March of 2017.
QDAR is citing new mortgage rules that came into effect at the start of the year as one of the main reasons for the decrease in sales.
While dollar sales are down, listings are up slightly, with 683 active listings, 25 more than last year.