THE GREY BRUCE REAL ESTATE MARKET REPORT

Home sales slow from breaking records to tying records.

Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound were unchanged on a year-over-year basis in June 2017.  Home sales numbered 330 units in June, tying the record for the month set last year.

On a year-to-date basis, home sales totalled 1,564 units over the first half of the year.  This was a record for the period, up 9.2% from the same period in 2016.

The average price of homes sold in June 2017 was $288,254, up 9.1% year-over-year.  The year-to-date average price in June was $289,200, rising 13.1% from the first half of 2016.

New residential listings on the Association’s MLS® System numbered 496 units in June 2017.  This was an increase of 6.7% compared to June 2016.  Active residential listings totalled 931 units at the end of June, down 37.1% from the same time last year to the lowest June level on record.

The number of months of inventory stood at 2.8 at the end of June, down from 4.5 months a year earlier.  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 dollar value of all home sales in June was $95.1 million, rising 9.1% on a year-over-year basis.  This was the highest June on record.  Sales of all types of properties numbered 428 units in June 2017, up 11.5% from the previous June.  The total value of all properties sold in June 2017 was $127.5 million, rising 28.1% from a year earlier.