The number of homes sold through the MLS System of the Tillsonburg District Real Estate Board totalled 210 units in April 2021.
This was more than double the levels from a year earlier, rocketing up 144.2 per cent from April 2020. This was also a new sales record for the month of April.
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Home sales were 27.9 per cent above the five-year average and 30.4 per cent above the 10-year average for the month of April.
On a year-to-date basis, home sales totalled a record 670 units over the first four months of the year. This was a significant increase of 65 per cent from the same period in 2020.
“Home sales rocketed up to a new April record, with the outsized year-over-year gain as much a reflection on the lows from last April as it is the current unprecedented strength in demand,” said David Bennett, president of the Tillsonburg District Real Estate Boar in a media release.
“We’re starting to see a sustained increase in the number of new listings coming onto the market, which has held off the drop in overall supply from reaching near-zero levels. However, market conditions are still among the tightest on record and intense competition among buyers is driving up benchmark home prices by 50 per cent compared to last year.”
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 $526,900 in April 2021, a jump of 50.3 per cent compared to April 2020.
The average price of homes sold in April 2021 was a record $631,823, up sharply by 45.3 per cent from April 2020.
The more comprehensive year-to-date average price was $608,300, a substantial increase of 40.6 per cent from the first four months of 2020.
The dollar value of all home sales in April 2021 was $132.7 million, more than double the levels from a year earlier, leaping 254.8 per cent from the same month in 2020. This was also a new record for the month of April.
The number of new listings more than doubled the levels from a year earlier, rocketing up 152.4 per cent from the lows in April 2020. There were 265 new residential listings in April 2021. This was the largest number of new listings added in the month of April in more than five years.
New listings were 27.3 per cent above the five-year average and 9.3 per cent above the 10-year average for the month of April.
Active residential listings numbered 150 units on the market at the end of April, a sharp decrease of 55.6 per cent from the end of April 2020. Active listings haven’t been this low in the month of April in more than three decades.