Huron Perth home sales remained subdued in September.
The Huron Perth Association of Realtors saw 128 units change hands through their Multiple Listing Service in September, which is down a substantial 12.9 percent.
Home sales are also 24.7 percent below the five-year average and 25.8 percent below the 10-year average for the month of September.
So far this year, 1,390 units sold, which is up just 1.5 percent from the first nine months of 2023.
“Sales activity is still trending well below typical levels for this time of year, with September posting the lowest reading for the month in over 20 years,” said Teresa Ondrejicka, President of the Huron Perth Association of realtors. “There’s been no shortage of new supply coming on the market as sellers are anxiously awaiting the return of buyers to the market, but the recovery hasn’t materialized yet as buyers seem to be waiting for rates to fall even further before coming back in. As a result, overall inventories have topped out for the time being as the acceleration in new listings has pulled back with the realization that there aren’t many offers being met right now.”
Sellers are ready with active residential listings numbered at 840 units on the market at the end of September, a sizeable gain of 27.1 percent from the end of September 2023.
The MLS® Home Price Index composite benchmark price was $574,900 in September 2024, up modestly by 1 percent compared to September 2023. The dollar value of all home sales in September 2024 was $79.6 million, down sharply by 13.8 percent from the same month in 2023.