April Home Sales in Grey Bruce Owen Sound Set A New Records
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 392 units in April 2021. This was more than double the levels from a year earlier, increasing 208.7% from April 2020 when sales reached their lowest level for the month in more than 30 years. This was also a new sales record for the month of April.
Home sales were 30.5% above the five year average and 33.4% above the 10-year average for the month of April. On a year-to-date basis, home sales totaled a record 1,098 units over the first four months of the year. This was a substantial increase of 58% 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 $455,700 in April 2021, up sharply by 37.8% compared to April 2020. The benchmark price for single-family homes was $459,000, a substantial increase of 39.2% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $368,700, a sizable gain of 10.6% compared to a year earlier, while the benchmark apartment price was $272,100, increasing by 19.4% from year-ago levels.
The average price of homes sold in April 2021 was $626,713, a jump of 56.7% from April 2020. The more comprehensive year-to-date average price was $619,913, a substantial gain of 48.5% from the first four months of 2020.
The dollar value of all home sales in April 2021 was $245.7 million, more than double the levels from a year earlier, surging 383.5% from the same month in 2020. This was a new record for the month of April and was also the largest dollar value of homes sold for any month in history.
The number of new listings more than doubled the levels from a year earlier, increasing 119.4% from the lows in April 2020. There were 476 new residential listings in April 2021. New listings were 17.1% above the five-year average and 15.3% below the 10-year average for the month of April. Active residential listings numbered 406 units on the market at the end of April, a substantial decline of 45.7% from the end of April 2020.
Active listings haven’t been this low in the month of April in more than three decades.
Active listings were 45.7% below the five-year average and 72.4% below the 10-year average for the month of April. Months of inventory numbered 1 at the end of April 2021, down from the 5.9 months recorded at the end of April 2020 and below the long-run average of 5.4 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.