GREY BRUCE REAL ESTATE MARKET UPDATE

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 208 units in November 2019. This was up 9.5% from November 2018.

On a year-to-date basis, home sales totaled 2,664 units over the first 11 months of the year, down just 1% from the same period in 2018.

The average price of homes sold in November 2019 was $414,376, jumping 20.7% from November 2018.

The more comprehensive year-to-date average price was $392,213, up 9.3% from the first 11 months of 2018.

New residential listings in the region numbered 248 units in November 2019. This was an increase of 17% on a year-over-year basis.

That said, overall supply remains near record lows. Active residential listings numbered 786 units at the end of November, an increase of 12% from the end of November 2018 but well below almost every other year on record.

Months of inventory numbered 3.8 at the end of November 2019, little changed from the 3.7 months recorded at the end of November 2018 and well below the long-run average of 11.2 months for this time of 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 2019 was $86.2 million, a large 32.1% increase from the same month in 2018 and a new record for the month of November.

Sales of all property types numbered 262 units in November 2019, up 7.4% from November 2018. The total value of all properties sold was $105.8 million, jumping 34.6% from November 2018.