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Tillsonburg home sales jump to new July record

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Residential sales activity recorded through the MLS system for the Tillsonburg and area real estate district numbered 93 units in July 2020. This was an increase of 17.7 per cent (14 sales) from July 2019 and marked a new sales record.

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On a year-to-date basis, home sales totalled 416 units over the first seven months of the year, down 4.1% from 2019.

“Home sales have only surpassed 100 in a single month once in history, so the 93 transactions recorded in July 2020 was a very strong showing – easily the best July ever,” said Dane Willson, president of the Tillsonburg District Real Estate Board in a media release. “At the same time, there are fewer properties for sale on the market right now that at any other point on record, so there is a lot of competition for those listings that are selling. Not surprisingly, this is showing up on the price side.”

The average price of homes sold in July 2020 was $471,324, surging 30.4% from July 2019.

The more comprehensive year-to-date average price was $446,278, up 14.6% from the first seven months of 2019.

The dollar value of all home sales in July 2020 was $43.8 million, a large 53.5 per cent increase from the same month in 2019. This was a new record for the month of July and was also the largest recorded dollar value of homes sold in this area for any month in history.

Tillsonburg District Real Estate Board members provide professional real estate services to buyers and sellers of all types of property. Its members are part of the Ontario Real Estate Association and the Canadian Real Estate Association, and as such subscribe to a high standard of professional service and a strict Code of Ethics. Tillsonburg District Real Estate Board listings can be found on www.realtor.ca.

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