GREY BRUCE REAL ESTATE UPDATE

The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 400 units in June 2021.

This was a small gain of 1.3% (five sales) from June 2020. This was also a new sales record for the month of June.

Home sales were 10% above the five-year average and 17.4% above the 10-year average for the month of June.

On a year-to-date basis, home sales totaled a record 1,859 units over the first six months of the year. This was a substantial gain of 41.7% from the same period in 2020.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

The overall MLS® HPI composite benchmark price was $508,800 in June 2021, a jump of 39% compared to June 2020.

The benchmark price for single-family homes was $512,400, a substantial gain of 39.6% on a year-over-year basis in June.

By comparison, the benchmark price for townhouse/row units was $424,800, a gain of 29.9% compared to a year earlier, while the benchmark apartment price was $272,100, up by 13.2% from year-ago levels.

The average price of homes sold in June 2021 was $648,673, an advance of 39.8% from June 2020.

The more comprehensive year-to-date average price was $635,780, up sharply by 43.8% from the first six months of 2020.

The dollar value of all home sales in June 2021 was $259.5 million, a substantial increase of 41.6% from the same month in 2020.

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.

The number of new listings saw a sizable gain of 10.5% from June 2020. There were 528 new residential listings in June 2021.

New listings were 3.9% above the five-year average and 5.4% below the 10-year average for the month of June.

Active residential listings numbered 562 units on the market at the end of June, a substantial reduction of 31.9% from the end of June 2020.

Active listings haven’t been this low in the month of June in more than three decades.

Active listings were 40.1% below the five-year average and 67.8% below the 10-year average for the month of June.

Months of inventory numbered 1.4 at the end of June 2021, down from the 2.1 months recorded at the end of June 2020 and below the long-run average of 5.5 months for this time of year.