Realtors in Huron Perth saw home sales drop by 9.1 per cent in 2023, compared to the year before. On an annual basis, home sales totaled 1,683 units over the course of 2023.
The Huron Perth Association of Realtors reports 83 units sold in December 2023, up 2.5 per cent, or two sales from December 2022. Home sales were 9.6 per cent below the five-year average and 8.3 per cent below the 10-year average for the month of December.
“Home sales came in lower in 2023 compared to the past decade largely due to higher interest rates pushing buyers to the sidelines,” said Bob Heimpel, President of the Huron Perth Association of Realtors. “However, the year ended on a positive note, with home sales surging in December compared to the previous several months and new listings still coming on strong. This is perhaps a good indication that the market may be showing signs of life, although we’ll need to wait another few months for the spring market to arrive before we can start getting a better picture on what to expect for the year ahead.”
The dollar value of all home sales in December 2023 was $48.3 million, falling by 1.9% from the same month in 2022.
The MLS Home Price Index composite benchmark price was $544,600 in December 2023, down by just 1.4 per cent compared to December 2022. Meantime, the annual average price was $624,333, a moderate decrease of 6.2 per cent from all of 2022.
The number of new listings was up by 19.4 per cent year-over-year.
