GREY BRUCE REAL ESTATE MARKET UPDATE

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 188 units in February 2020.

This was a large 38.2% increase from February 2019, and marked the second-best February sales figure on record, just three transactions shy of the 2006 record.

On a year-to-date basis, home sales totalled a record 329 units over the first two months of the year, jumping 31.6% from the same period in 2019. This was a new record for the first two months of the year.

The average price of homes sold in February 2020 was $399,690, up 10.1% from February 2019. The more comprehensive year-to-date average price was $408,382, rising 15.4% from the first two months of 2019.

New residential listings in the region numbered 249 units in February 2020. This was an increase of 19.7% on a year-over-year basis.

Even so, overall supply remains near record lows. Active residential listings numbered only 628 units at the end of February, up just 1.1% (seven listings) from the end of February 2019 and still well below normal.

Sales of all property types numbered 233 units in February 2020, up 33.9% from February 2019. The total value of all properties sold was $91 million, a large 44.6% increase from February 2019.