What’s the average house in Northumberland going for these days? Well, in November, according to the Central Lakes Association of Realtors (CLAR), the average sale price in this region was $741,262.
In November, Northumberland County reported a roughly 56 per cent rise in sales, with 106 transactions during the month, compared to 68 the previous year.
The average sale price compared to November last year is down slightly from $753,273.
However, when compared to the average sale price in October 2024, this figure is up from $691,094. Sales are also down somewhat from 117 in October.
“As the holiday season approaches, we are observing a decrease in the number of sales compared to the previous month across almost all of our regions,” noted CLAR President Vicki Sweeney, in the association’s latest report on real estate statistics for its region, which includes Northumberland, Durham, Hastings, Kawartha, Peterborough and Prince Edward County.
“This trend is typical for this time of year as many individuals choose to postpone real estate transactions until after the holidays,” noted Sweeney.
“However, on Dec. 15, 2024, two key changes will take effect to mortgage rules in Canada,” said Sweeney. “There will be an increased price cap for insured mortgages and expanded eligibility for 30-year mortgage amortizations to all first-time homebuyers and to all buyers of new builds.”
Sweeney went on to say that these changes may provide relief to many Canadians looking to purchase a home in 2025.
According to the latest statistics provided, Northumberland was second in price only to Durham, which came in with an average sale price of $904,226 for a home. Durham reportedly recorded 739 sales, translating to a 39 per cent jump from the 532 sales reported in November 2023. The average home price rose “slightly” during the same period.
When compared to October, there were 888 sales in Durham.
Meanwhile, Hastings County had a 13 per cent jump in sales, with 128 transactions compared to 113 in November 2023. When compared to October 2023, there were 152 sales.
The average house price for November was recorded at $542,897; in October, it was $520,330.
Year-over-year in Prince Edward County, sales are up from 20 in November 2023 to 33 this November, representing a 65 per cent increase. The average price decreased from $874,993 to $720,367. In October, there were 24 sales.
In Kawartha, sales compared to this time last year are described as significant with 101 compared to 57. In comparison to October, there were 106 sales. The average sale price rose to $715,196.
And in Peterborough, there was a 25 per cent hike, with 125 homes sold compared to 100 in November 2023. In comparison to October, there were 174 homes sold. The average home went for $622,002 in November.
As the holiday season approaches, CLAR CEO Wendy Giroux also noted the organization is committed to supporting local communities and is giving back through annual charity auction fundraising events.
“This year, we are honoured to support four local Habitat for Humanity organizations, each with active builds in our regions and community food banks. At CLAR, we believe that everyone deserves access to safe and affordable housing, and we are dedicated to making a meaningful difference by contributing to these essential shelter-related causes.”
(Written by: Sarah Hyatt)
