GREY BRUCE REAL ESTATE MARKET REPORT

Grey Bruce area home sales set new November record!

Residential sales activity recorded through the MLS ® System of the REALTORS ® Association of Grey Bruce Owen Sound came in well above year-ago levels in November 2015.

Home sales numbered 200 units in November 2015, jumping 28.2 per cent from November 2014. This was the best November on record by a considerable margin.

On a year-to-date basis sales activity was running 16.1 per cent ahead of the same period last year. With one month left to go in 2015, activity is running just 21 sales below the 2007 record. Sales of all types of properties numbered 249 units in November 2015, up 23.9 per cent from the previous November.

The average price of homes sold in November 2015 was $257,437, rising 10.4 per cent on a year-over-year basis. The year-to-date average price figure was $244,774, up 7.7 per cent from the first 11 months of 2014.

New residential listings on the Association’s MLS® System numbered 240 units in November 2015. This was a decrease of 12.4 per cent compared to November 2014. Active residential listings totalled 1,574 units at the end of November, down 11.4 per cent from the same time last year.

The number of months of inventory stood at 7.9 at the end of November, down from 11.4 months at the end of November 2014 and below the long-run average for this time of the 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 dollar value of all home sales in November was $51.5 million, up 41.6 per cent on a year-over-year basis. This was a record for the month of November and marked the first time dollar volumes had surpassed $40 million in this month. The total value of all properties sold in November 2015 was $63.3 million, an increase of 26.7 per cent from a year earlier.