Grey Bruce Real Estate Market Report

Home sales repeat last year’s April record!

Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound came in even with last year’s record level in April 2016.

Home sales numbered 274 units in April 2016.  Sales of all types of properties numbered 340 units in April 2016, up 4.9 per cent from the previous April.

The average price of homes sold in April 2016 was $254,938, up 8.7 per cent on a year-over-year basis.  On a year-to-date basis the average price of home sales in the first four months of 2016 was $253,914, rising 6.5 per cent.

New residential listings on the Association’s MLS® System numbered 604 units in April 2016.  This was a decrease of 8.5 per cent compared to April 2015.  Active residential listings totalled 1,514 units at the end of April, down 27 per cent from the same time last year.

The number of months of inventory stood at 5.5 at the end of April, down from 7.6 months at the end of April 2015 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 April was $69.9 million, up 8.7 per cent on a year-over-year basis.  The total value of all properties sold in April 2016 was $88.5 million, an increase of 10.3 per cent from a year earlier.