Northumberland County’s housing market saw an increase in average home prices in February, but levels remain below what they were a year ago.
According to the Central Lakes Association of REALTORS® (CLAR), the average sale price in the county rose to $676,307 last month, up from $639,707 in January. However, February 2024’s average price was higher, at $701,173. Meanwhile, the average time it took to sell a home remained steady at 63 days.
Across the region, home prices showed varying trends. Peterborough’s market saw an increase, with the average price reaching $706,642, while Prince Edward County recorded the biggest month-over-month price jump, climbing from $679,824 in January to $793,525 in February.
CLAR President Vicki Sweeney noted that while home prices rose in most areas, uncertainty surrounding economic conditions-particularly the potential impact of tariffs-could lead some buyers to delay their purchases in the coming months.
Despite these concerns, CLAR remains optimistic about the market. “We remain encouraged by the continued support of low interest rates,” said Sweeney.
CLAR CEO Wendy Giroux also highlighted the importance of collaboration with elected officials to address housing affordability and economic growth. “We look forward to working with our leaders to find solutions that support attainable housing, economic growth, and stronger communities,” she said.
(Written by: Joseph Goden)
