June home sales above 10-year average in Tillsonburg
The number of homes sold through the MLS System of the Tillsonburg District Real Estate Board totalled 201 units in June 2021. This was a gain of 19.6 per cent from June 2020. Residential sales haven’t hit this level in the month of June in five years.
Home sales were 14.3 per cent above the five-year average and 13.9% above the 10-year average for the month of June.
On a year-to-date basis, home sales totalled a record 1,073 units over the first six months of the year. This was up sharply by 57.3 per cent from the same period in 2020.
“MLS home sales in Tillsonburg remained very strong this past month,” said David Bennett, president of the Tillsonburg District Real Estate Board in a media release. “Total residential sales missed setting a new record by only four sales in June. New listings have been consistent over the last few months and although active listings haven’t been this low in the month of June in more than three decades, overall inventory is still more than double the historical low posted just a few months ago. These combined factors have contributed to an easing of market conditions. However, market balance indicators confirm we are still in a seller’s market as of the end last month and will likely continue to see double-digit year-over-year monthly percentage increases in the MLS HPI composite benchmark price.”
The MLS Home Price Index (HPI) tracks price trends more accurately than is possible using average or median price measures. The overall MLS HPI composite/single family benchmark price was $541,700 in June 2021, an advance of 50.3 per cent compared to June 2020.
The average price of homes sold in June 2021 was $643,498, a substantial increase of 31.4 per cent from June 2020.
The more comprehensive year-to-date average price was $623,876, a jump of 38.9 per cent from the first six months of 2020.
The dollar value of all home sales in June 2021 was $129.3 million, a substantial gain of 57.2 per cent from the same month in 2020. This was also a new record for the month of June.
The number of new listings saw a decline of 9.2 per cent from June 2020. There were 248 new residential listings in June 2021.
Active residential listings numbered 187 units on the market at the end of June, down sharply by 50.9 per cent from the end of June 2020. Active listings haven’t been this low in the month of June in more than three decades.
Active listings were 48.3 per cent below the five-year average and 70.1 per cent below the 10- year average for the month of June.