More homeowners appear ready to sell in Huron Perth.
The Huron Perth Association of Realtors say 266 homes were added to the market in March, up by 22 per cent from March 2023. In all, there were 542 active residential listings last month, hich is a major increase of 32.5 per cent from the end of March 2023. Active listings haven’t been this high in the month of March in more than five years.
Realtors in Huron Perth sold 139 houses through the Multiple Listing System in March 2024, up slightly by 1.5 per cent, or two sales, from March 2023. In March, home sales fell 19.2 per cent from the five-year average and 15.5 per cent from the ten-year average.
“Sales activity remained at the same levels as last year, while new listings rebounded to above-average levels in March,” said Teresa Ondrejicka, President of the Huron Perth Association of Realtors. “While buyers appear to remain cautious, perhaps running out the clock until the first interest rate cut appears on the horizon, sellers have been less patient and are raring to go this spring. Our market is well supplied but not oversupplied at the moment, so once buyers decide to get off the sidelines they will find that there is plenty of choice waiting for them.”
Home sales totaled 363 units in the first three months of the year. This was a 15.6 per cent rise over the same period in 2023.
The MLS Home Price Index composite benchmark price in March 2024 was $553,600, up 1.3 per cent from March 2023.
The year-to-date average price was $608,985, up 4 per cent from the first quarter of 2023.
The total value of all house sales in March 2024 was $80.6 million, up 1.2 per cent.
