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Home sales hit two decade high, supply hits record low in Huron Perth

Home sales in Huron Perth haven’t slowed in the first month of 2022.  In January 114 homes were sold, which is an increase of 14 sales over the same month last year.  This is the first-time home sales have been this high during the month of January in twenty years.

The price of homes also jumped over 40 percent for an average price of  $719,057.  Apartments sold for an average of $478,700.

“The momentum in sales activity carried over seamlessly from last year into 2022, with home sales reaching the second-best January in history to start this year,” said Julie Heitbohmer, President of the Huron Perth Association of REALTORS®. “New listings barely rebounded to average levels for this time of year, which is probably one of the reasons that sales performed as well as they did. Many other markets in the province are seeing new supply well below what is considered typical for the beginning of the year and that’s starting to crimp sales activity. Our overall inventories are now the lowest they’ve even been on record going back to the late 1980s, so we’re going to closely monitor the supply situation in case the same begins to happen in our market.”

While new listings saw a gain from January 2021 there were only 83 units on the market at the end last month, another record low in over thirty years.

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