Kathy Dawson, the Huron Perth Association of Realtors president, said many homes in the region are still getting multiple offers, but not at the same rate as before.
“Sometimes the average can skew to a degree if we have more higher-end on the market than the lower-priced bracket,” Dawson said.
While the local real estate market has followed national trends since the pandemic rebound, the average price of homes sold in October dropped from the $615,459 buyers paid in September.
Supply continues to be an issue, with 196 new residential listings in October, a decline of 15.2 per cent from a year ago.
Home sales last month totalled 217 units, a decrease of 8.4 per cent from October 2020 but second most for the month in the association’s history.
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