The number of homes sold through Huron Perth Association of Realtors Multiple Listing System (MLS) totalled 171 units in April 2023.
This was a substantial decline of 22.3 per cent from April 2022. On a year-to-date basis, home sales totalled 497 units over the first four months of the year. This was a significant decrease of 25.8 per cent from the same period in 2022.
The MLS® Home Price Index composite benchmark price was $538,000 in April 2023, a substantial decline of 19.6 per cent compared to April 2022.
“Home sales have been up and down with no real trend emerging over the past several months, although we can definitively say that activity is not falling,” said Bob Heimpel, President of the Huron Perth Association of REALTORS®. “A large part of the reason we may not be seeing a rebound in sales yet is the lack of new listings that typically surges onto the market at this time of year to start the busy spring season. If sellers remain overly cautious for the time being then this spring market could be delayed by another month or two, during which time these sidelined sellers will be carefully watching for the emergence of any positive news. At the present time our good news is that MLS® benchmark prices have turned a corner and are beginning to rise again.”
The dollar value of all home sales in April 2023 was $110.5 million, a big decline of 30.7 per cent from the same month in 2022.
The number of new listings saw a substantial decline of 19.3 per cent from April 2022. There were 263 new residential listings in April 2023.