Home buyers in Huron and Perth counties have more to choose from, but still sales dropped substantially.
The Huron Perth Association of Realtors reports active residential listings numbered 642 units on the market at the end of September, up nearly 32 percent from the end of September 2022. Active listings haven’t been this high in the month of September in more than five years.
“Sales activity continued its downward trend in September as new listings moved in the opposite direction,” said Bob Heimpel, President of the Huron Perth Association of REALTORS®. “Overall inventories are once again on the rise but are still , while the market has shifted down into balanced territory. With a near-record influx of new listings and MLS® Benchmark prices essentially moving sideways at the moment, we may see a further softening of market conditions before potential buyers are enticed back.”
The MLS® Home Price Index composite benchmark price was $565,700 in September 2023, unchanged compared to September 2022.
Meantime, the 143 multiple listing sales last month was down 10.1 percent from September of 2022. Sales for the first nine months of the year are down by 9.9 percent from the same time period last year. Home sales were 19.8 percent below the five-year average and 20.3 percent below the 10-year average for the month of September.
