More homes were sold in the Stratford area last month compared to a year ago.
The Huron Perth Association of Realtors says there were 239 units sold in May, up 12.7 per cent from May 2022.
“Home sales recorded a massive spike in May, rising to the second-best level for this month on record and boosted by a long-awaited resurgence in new listings,” said Bob Heimpel, President of the Huron Perth Association of Realtors. “Now that sellers are finally getting their properties back on the market in force, buyers that were previously sidelined due to a lack of choice or being priced out in multiple offer situations are able to find their next home. Demand is still outpacing supply, as even the strong lift in new listings did not prevent the overall stock of inventories from dropping again in May. With the market tightening, MLS HPI benchmark prices are now definitively on the rise once again, up nearly four percent in just three months.”
The average price of homes sold in May 2023 was $659,062, a decrease of 4 per cent from May 2022.
The dollar value of all home sales in May was $157.5 million, increasing by 8.3 per cent from the same month in 2022. This was also a new record for the month of May.
