Home sales across the Quinte region were down last month compared to the year before, however, the average price was up almost 25%.
The Quinte & District Association of Realtors reports 379 units were sold, down 35% from April 2021.
However, Association President Valerie Miles says April of last year was the highest on record for the month by a mile.
The average price of homes sold in April 2022 was just over $761,000, up 24.1% from last year.
Miles says new listings haven’t moderated to the same extent as sales which is a good sign for the market.
She says, “If these trends continue to play out we hope to see a rebalancing of the market away from deep seller’s territory to more normal conditions over the rest of the year, where potential buyers once again have some choices available to them.”
There were 494 active residential listings on the market at the end of April, up 8.1% from a year ago.
