Port Elgin Real Estate Market
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.
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.
THE GREY BRUCE REAL ESTATE MARKET REPORT
Home sales down from last year but still above average.
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound were down 13.3% on a year-over-year basis in January 2017.
That said, it was still above average – the second best January since January 2010. Home sales numbered 104 units in January 2017. The average price of homes sold in January 2017 was $254,670, up 7.6% year-over-year.
New residential listings on the Association’s MLS® System numbered 223 units in January 2017. This was a decrease of 1.3% compared to January 2016. New supply has recently struggled to keep up with strong demand, which has led to historically tight market conditions.
Active residential listings totalled 695 units at the end of January, down 32.1% from the same time last year. This was the lowest level of supply ever recorded.
The number of months of inventory stood at 6.7 at the end of January, down from 8.5 months a year earlier and the lowest level of any January on record. 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 January was $26.5 million, down 6.7% on a year-over-year basis. Sales of all types of properties numbered 160 units in January 2017, up 6.7% from the previous January. The total value of all properties sold in January 2017 was $43.7 million, an increase of 18.4% from a year earlier.
Grey Bruce Real Estate Market Report
Grey Bruce home sales reach new all-time record!
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound reached the highest level on record in May 2016.
Home sales numbered a record 332 units in May 2016, rising 11.8 per cent on a year-over-year basis.
On a year-to-date basis home sales were running 17 per cent ahead of the first five months of 2015. This was a record for the period and marked just the second time sales had ever surpassed 1,000 in the first five months of any year. The last time was back in 2002.
Sales of all types of properties numbered 411 units in May 2016, up 14.5 per cent from the previous May. The average price of homes sold in May 2016 was $251,596, edging down 1.7 per cent on a year-over-year basis. On a year-to-date basis the average price of home sales in the first five months of 2016 was $253,215, rising 3.8 per cent.
New residential listings on the Association’s MLS® System numbered 664 units in May 2016. This was a decrease of 14 per cent compared to May 2015. Active residential listings totalled 1,689 units at the end of May, down 30.4 per cent from the same time last year.
The number of months of inventory stood at 5.1 at the end of May, down from 8.2 months at the end of May 2015 and below the long-run average for this time of the 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 May was $83.5 million, up 9.9 per cent on a year-over-year basis. This was the highest level of any month on record and marked the first time volumes ever surpassed $80 million. The total value of all properties sold in May 2016 was $104 million, an increase of 8.9 per cent from a year earlier.
GREY BRUCE REAL ESTATE MARKET REPORT
Grey Bruce area home sales set new November record!
Residential sales activity recorded through the MLS ® System of the REALTORS ® Association of Grey Bruce Owen Sound came in well above year-ago levels in November 2015.
Home sales numbered 200 units in November 2015, jumping 28.2 per cent from November 2014. This was the best November on record by a considerable margin.
On a year-to-date basis sales activity was running 16.1 per cent ahead of the same period last year. With one month left to go in 2015, activity is running just 21 sales below the 2007 record. Sales of all types of properties numbered 249 units in November 2015, up 23.9 per cent from the previous November.
The average price of homes sold in November 2015 was $257,437, rising 10.4 per cent on a year-over-year basis. The year-to-date average price figure was $244,774, up 7.7 per cent from the first 11 months of 2014.
New residential listings on the Association’s MLS® System numbered 240 units in November 2015. This was a decrease of 12.4 per cent compared to November 2014. Active residential listings totalled 1,574 units at the end of November, down 11.4 per cent from the same time last year.
The number of months of inventory stood at 7.9 at the end of November, down from 11.4 months at the end of November 2014 and below the long-run average for this time of the 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 was $51.5 million, up 41.6 per cent on a year-over-year basis. This was a record for the month of November and marked the first time dollar volumes had surpassed $40 million in this month. The total value of all properties sold in November 2015 was $63.3 million, an increase of 26.7 per cent from a year earlier.