Home-price frenzy surging into small Southwestern Ontario towns

STRATFORD – The average home sale price in Huron and Perth counties was a record $576,514 last month, a massive increase from last year as the housing frenzy in large Southwestern Ontario cities spills over into smaller communities.

That represents a 61 per cent year-over-year jump in the average sale price. The dollar value of all home sales in April was $133.8 million, another record and more than double the levels from a year earlier.

Total home sales surged last month to 232 units, more than double the amount sold in April 2020 and second only to April 2017 for the most sold in that month, said Kathy Dawson, president of the Huron Perth Association of Realtors.

The statistics come from a region that includes Goderich, Exeter, Clinton, St. Marys, Stratford, Mitchell and several tiny communities.

The 296 new listings more than doubled the levels from a year earlier, increasing 196 per cent from the lows in April 2020. Home sales have totalled 722 units over the first four months of the year in Huron-Perth, an increase of 50 per cent from the same period in 2020.

“A surge in new listings hitting the market over the past few months has kept overall inventories from hitting near-zero levels,” Dawson said. “Make no mistake, though, the persistent strength in demand is keeping this market in some of the tightest conditions in history.

“Competition among buyers for a record-low supply of listings has now driven year-over-year benchmark price growth into the neighbourhood of 40 per cent.”

London’s scorching hot housing market kept sizzling in April, too, setting a monthly record for home sales despite yet another increase in average prices, figures released last week show.

A total of 1,231 homes were sold last month, making it the best April on record since 1978, when the London and St. Thomas Association of Realtors (LSTAR) began tracking data.

April also became the eighth consecutive month the London market that includes St. Thomas, Strathroy and portions of Elgin and Middlesex counties set sales records.


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