The local housing market continued to show signs of cooling in April, as home sales in Simcoe & District fell sharply compared to the same time last year.
According to the latest data from the MLS® System of the Cornerstone Association of REALTORS® (Cornerstone), a total of 90 homes were sold in the region last month — a 25.6% drop from April 2024.
Realtor and former OREA president Ray Ferris says there are multiple factors going into this, but one is clear.
The slowdown brings April’s sales 18.5% below the five-year average and 15.4% under the 10-year average for the month, indicating a broader market trend that may reflect affordability concerns, interest rates, or shifting buyer behavior.
What this mean, according to Ferris, is that the landscape is shifting.
With that being said, if someone is looking to list their home, this isn’t all doom and gloom.
Ferris says sellers just need to be mindful and take a few things into consideration before putting the house up for sale.
So far in 2025, the local real estate market has seen 275 homes sold over the first four months of the year, representing a 17.2% decline compared to the same period in 2024.
Industry observers will be closely watching how the spring and summer markets develop, as the typically busier months could offer insights into whether this downturn is part of a longer-term correction or a short-term dip.