Grey Bruce Owen Sound Average Price Sets New Record In September
Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 384 units in September 2020. This was a large increase of 30.6% from September 2019. On a year-to-date basis, home sales totalled 2,532 units over the first nine months of the year. This was up 9.1% from the same period in 2019.
The average price of homes sold in September 2020 was a record $502,003, rising 23.5% from September 2019, breaking the $500K level for the first time in history. The more comprehensive year-to-date average price was $462,404, up 19.1% from the first nine months of 2019.
New residential listings in the region numbered 395 units in September 2020. This was little changed, down 0.8% (three listings) on a year-over-year basis. Overall supply remains near record lows. Active residential listings numbered 584 units at the end of September. This was a large decline of 45.6% from the end of September 2019.
Months of inventory numbered 1.5 at the end of September 2020, down from the 3.7 months recorded at the end of September 2019 and below the long-run average of 6.3 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 September 2020 was $192.8 million, a significant gain of 61.3% from the same month in 2019. This was also a new record for the month of September.
Sales of all property types numbered 496 units in September 2020; advancing by 36.3% from September 2019. The total value of all properties sold was $231.9 million, increasing substantially by 69.3% from September 2019.
