Huron-Perth home sales and listings slow sharply in April as community follows public health guidelines
Residential sales activity in the area served by the Huron Perth Association of REALTORS® numbered 98 units in April 2020. This was a large decline of 59.7% from April 2019.
On a year-to-date basis, home sales totalled 567 units over the first four months of the year. This was a decrease of 14.9% from the same period in 2019.
“Despite the fact that we were heading into a record-breaking spring market, buyers and sellers have followed public health guidelines and look to be deferring their plans,” said Sherrie Roulston, President of the Huron Perth Real Association of REALTORS®. “Things will likely continue to be quiet but REALTORS® are an essential service in the province to help assist clients. The activity that continues to take place in the market is showing relatively tight market balance and prices holding largely steady.”
The average price of residential properties sold in April 2020 was $388,483, down 4.7% from April 2019.
The more comprehensive year-to-date average price was $415,483, up 9.6% from the first four months of 2019.
There were 128 new residential listings in April 2020. This was a large decline of 64.6% on a year-over-year basis.
Overall supply continues to run at record low levels. Active residential listings numbered 362 units at the end of April. This was down 26.4% from the end of April2019.
Residential months of inventory numbered 3.7 at the end of April 2020, up slightly from the 2 months recorded at the end of April 2019 and below the long-run average of 4.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all home sales in April 2020 was $38.1 million, declining by 61.6% from the same month in 2019.
The total dollar value of all properties sold was $46.2 million; declining by 61.5% from April 2019.
BOARD & ASSOCIATION INFORMATION
The Huron Perth Association of REALTORS® represents approximately 255 REALTORS® registered with its member offices. The geographical area served by the Board is in southwestern Ontario, bordered by Lake Huron and Stratford's Festival Theatre, and includes Huron and Perth Counties.