Grey Bruce Real Estate Market Update

Grey Bruce home sales post a new record for April.

Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound rose 14.6% on a year-over-year basis in April 2017.

Home sales numbered 314 units in April – a new record for the month.  On a year-to-date basis, home sales totalled 848 units over the first four months of the year.  This was a record for the period, up 10.1% from the same period in 2016.

The average price of homes sold in April 2017 was a record $298,555, up 17.1% year-over-year.  The year-to-date average price in April was $286,523, rising 12.8% from the first four months of 2016.

New residential listings on the Association’s MLS® System numbered 455 units in April 2017.  This was a drop of 24.7% compared to April 2016 and marked the lowest level for the month of April in more than three decades.

Active residential listings totalled 733 units at the end of April, down 51.6% from the same time last year.  This was the lowest level of overall supply since the late 1980s.

The number of months of inventory stood at a record low of 2.3 at the end of April, down from 5.5 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 April was $93.7 million, jumping 34.2% on a year-over-year basis.  This was a new record for the month.

Sales of all types of properties numbered 405 units in April 2017, up 19.1% from the previous April.  The total value of all properties sold in April 2017 was $112.7 million, rising 27.4% from a year earlier.