Tillsonburg home sales remain strong to start 2020
Residential sales activity recorded through the MLS system for the Tillsonburg District numbered 46 units in January 2020. This was an increase of 24.3% (nine sales) from January 2019.
“Alongside somewhat stronger new listings since last summer, sales have continued to turn in some pretty strong monthly results, but it’s all based on that new supply coming onto the market each month,” said Dane Willson, President of the Tillsonburg District Real Estate Board. “It’s a tough time of the year to make predictions, because it’s hard to know how many would-be sellers are out there waiting to list in the spring, but regardless, they likely won’t have any issues finding enthusiastic buyers this year.”
The average price of homes sold in January 2020 was $400,777, up 7.3% from January 2019.
The dollar value of all home sales in January 2020 was $18.4 million, a large 33.4% increase from the same month in 2019. This was a new record for the month of January.
There were 66 new residential listings in January 2020. This was down 1.5% (one listing) on a year-over-year basis.
Overall supply is still running at record lows in the Tillsonburg District. Active residential listings numbered only 133 units at the end of January, down 1.5% (two listings) from the end of January 2019.
Months of inventory numbered just 2.9 at the end of January 2020, down from the 3.6 months recorded at the end of January in 2019 and also a record low for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The 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.