If you are looking to purchase a home, rest assured, there are plenty on the market.
Huron Perth Association of Relators’ monthly report indicates there are 684 units on the market as of the end of July. That’s a 46 per cent jump from the same time last year, and the highest number of listings for that time period in more than five years.
There were 337 new residential listings in the month of July between Perth and Huron counties, the largest ever in a single month in the area, according to the association.
One-hundred-sixty-five units sold through MLS last month, up two from the previous month. The average price of a home sold was $621,569.
Teresa Ondrejicka, President of the Huron Perth Association of Realtors, said with more interest rate cuts on the horizon, variable lending conditions are expected to continue easing through the remainder of this year and next, which will likely prompt more buyers to return to the market.
But that may also bring out more sellers, Ondrejicka noted.
