Grey Bruce Owen Sound MLS® Home Sales Set New Full-Year Record In 2021
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 155 units in December 2021. This was down sharply by 23.6% from December 2020.
Home sales were 2.8% above the five-year average and 8.4% above the 10-year average for the month of December.
On an annual basis, home sales totaled a record 3,503 units over the course of 2021. This was a minor increase of 3.8% 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 $534,800 in December 2021, a jump of 30.8% compared to December 2020.
The benchmark price for single-family homes was $535,200, a substantial gain of 30.4% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $466,600, an advance of 41.6% compared to a year earlier, while the benchmark apartment price rose by 34% to $384,000, from year-ago levels.
The average price of homes sold in December 2021 was a record $830,982, a jump of 48.5% from December 2020.
The more comprehensive annual average price was $650,944, a significant increase of 35.2% from all of 2020.
The dollar value of all home sales in December 2021 was $128.8 million, a gain of 13.4% from the same month in 2020. This was also a new record for the month of December.
The number of new listings was down sharply by 21.4% from December 2020. There were 114 new residential listings in December 2021.
New listings were 8.4% below the five-year average and 24.7% below the 10-year average for the month of December.
Active residential listings numbered 256 units on the market at the end of December, a substantial decrease of 16.1% from the end of December 2020. Active listings haven’t been this low in the month of December in more than three decades.
Active listings were 47.4% below the five-year average and 72.8% below the 10-year average for the month of December.
Months of inventory numbered 1.7 at the end of December 2021, up from the 1.5 months recorded at the end of December 2020 and below the long-run average of 7.3 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.
