Grey Bruce Owen Sound Home Sales Up Year-Over-Year In March
Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 211 units in March 2020. This was an increase of 24.1% from March 2019.
On a year-to-date basis, home sales totaled 540 units over the first three months of the year. This was an increase of 28.6% from the same period in 2019.
The average price of homes sold in March 2020 was a record $445,569, rising 26.3% from March 2019. The more comprehensive year-to-date average price was $422,913, rising 19.6% from the first three months of 2019.
New residential listings in the region numbered 343 units in March 2020. This was an increase of 12.5% on a year-over-year basis. Overall supply remains near record lows. Active residential listings numbered 674 units
at the end of March. This was down 5.5% from the end of March 2019.
Months of inventory numbered 3.2 at the end of March 2020, down from the 4.2 months recorded at the end of March 2019 but below the long-run average of 7.5 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 March 2020 was $94 million, a large increase of 56.8% from the same month in 2019. This was also a new record for the month of March. Sales of all property types numbered 247 units in March 2020, up 6.5% (15 sales) from March 2019. The total value of all properties sold was $107.7 million, a large increase of 33.5% from March 2019.
