April 2023 Residential Market Statistics

Check out April's real estate statistics. These stats focus on the median, year-over-year residential numbers across 5 of the largest markets in our region.

If you would like further intel about these statistics, a more localized picture or are curious about commercial statistics, please do not hesitate to reach out.

Median Sale Price

Year-over-year median sale price is down in all 5 markets. This is not surprising, as we were seeing higher sale prices in April of 2022 due to lower rates and more demand. In all of the markets except Prince Edward, we are seeing an increase in month-over-month numbers which suggests prices may be on the rise in the coming months.

New Listings

New listings are down 10-20 percent across most markets but again are up month-over-month. These inventory levels are historically low for this time of the year, which gives buyers less choice when purchasing a home. Sellers who are looking to make a move seem more hesitant to list their property with the fear that they won't find something suitable to move into.

Number of Sales

Number of sales are down year-over-year but up month-over-month in all markets except Belleville. This correlates with a normal spring market having more activity in April than March. 

Months of Supply

Belleville, Quinte West and Kingston are still under 3 months of inventory despite the increase in new listings. This illustrates the low amount of inventory in these markets. Even when there are less buyers in the market, there is still not a lot of product to choose from. Northumberland and PEC are showing higher than 3 months and are on the rise month-over-month. These areas were hot spots for people moving from the GTA during the pandemic. We may be seeing increased inventory due to people moving back to the GTA as their work normalizes.

Original vs. Sold Price

Original vs. sold price down over all markets from April of 2022 where the majority of homes were selling for over ask price. Expect that the price the home is listed at, if it is priced correctly, will be relatively close to the sale price.