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Tillsonburg home sales post solid April

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Residential sales activity recorded through the MLS system for the Tillsonburg District numbered 81 units in April 2019. This was down 6.9% (six sales) from April 2018.

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On a year-to-date basis, home sales totalled 213 units over the first four months of the year, a decrease of 12.3% from 2018.

“Home sales are still running a little below the last few years, but that said, April’s sales figure was still better than every other year on record prior to 2016 so it was a solid result,” said Dane Willson, President of the Tillsonburg District Real Estate Board, in a media release. “In fact, if April new listings had not been their lowest in two decades, we may well have seen sales come in even closer to those record levels.”

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The average price of homes sold in April 2019 was $411,555, surging 20.7% from April 2018.

The more comprehensive year-to-date average price was $392,345, up 16% from the first four months of 2018.

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The dollar value of all home sales in April 2019 was $33.3 million, rising 12.4% from the same month in 2018. This was the largest dollar value of home sales in any month ever in the region.

There were 97 new residential listings in April 2019. This was a decrease of 11.8% (13 listings) on a year-over-year basis and the lowest level since the year 2000.

Overall supply is still running near record lows. Active residential listings numbered 154 units at the end of April. This was little changed (two more listings) from the end of April 2018.

Months of inventory numbered just 1.9 at the end of April 2019, little changed from the 1.7 months recorded at the end of April 2018 and well below the long-run average of 8.4 months 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.

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