The Huron Perth Association of Realtors says the number of homes sold through the Multiple Listing Service in the region in 2020 set an all time record.
On an annual basis, home sales totaled a record 2,173 units over the course of 2020, advancing 11.3% from the same period in 2019.
The MLS Home Price Index composite benchmark price for single-family homes was $420,700, a gain of 21.3% on a year-over-year basis in December while the benchmark apartment price was $383,500, down 4.2% from year-ago levels.
The dollar value of all home sales in December 2020 rose by 16.7% to $51.3 million, from the same month in 2019. This was a new record for the month of December.
"2020 was a banner year for real estate in our region." said Kathy Dawson, President of the Huron Perth Association of REALTORS®. "The strength of demand combined with dwindling active listings continue to be a concern moving into 2021. Having said that, I think it is safe to say that when the pandemic started back in the spring, very few people would have agreed that this year would turn out to be the best year our region has ever recorded, yet here we are."
There were 79 new residential listings in December 2020, decreasing by 14.1% (13 listings) from the end of December 2019.
Active residential listings numbered 106 units at the end of December. Declining significantly by 63.9% from the end of December 2019. It has been more than three decades since active listings have been at the current level.