GREY BRUCE REAL ESTATE MARKET UPDATE

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 369 units in June 2020. This was a large increase of 37.7% from June 2019. This was also a substantial increase in activity from the lows seen in recent months.

On a year-to-date basis, home sales totalled 1,215 units over the first six months of the year. This edged down 2.4% from the same period in 2019.

The average price of homes sold in June 2020 was $472,473, rising 21.4% from June 2019.This was a slight pull back from last month.

The more comprehensive year-to-date average price was $446,469, rising 19.2% from the first six months of 2019.

New residential listings in the region numbered 429 units in June 2020. This was a decrease of 12.6% on a year-over-year basis.

Overall supply remains near record lows. Active residential listings numbered 765 units at the end of June. This was down 29.5% from the end of June 2019.

Months of inventory numbered 2.1 at the end of June 2020, down from the 4 months recorded at the end of June 2019 but below the long-run average of 6.8 months for this time of year.

The dollar value of all home sales in June 2020 was $174.3 million, surging 67.2% from the same month in 2019. This was a new record for the month of June and was also the largest dollar value of homes sold for any month in history by a wide margin.

Sales of all property types numbered 443 units in June 2020; this was an increase of 28.8% from June 2019. The total value of all properties sold was $198.4 million, a large increase of 50.9% from June 2019.