December 2019 Market Update

From The Blog

19 January 2020

Grey Bruce Owen Sound Home Sales Up Year-Over-Year In December 2019

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 129 units in December 2019.  This was up 4.9% (six sales) from December 2018.  On an annual basis, home sales totalled 2,791 units over the course of 2019, down a slight 0.8% from the same period in 2018.

The average price of homes sold in December 2019 was $395,126, jumping 15.5% from December 2018.  The more comprehensive annual average price for 2019 was $392,508, up 9.6% from all of 2018.

New residential listings in the region numbered 128 units in December 2019.  This was up 4.1% (five listings) on a year-over-year basis.  Even so, overall supply remains near record lows.  Active residential listings numbered 637 units at the end of December, an increase of 10.4% from the end of December 2018 but still well below average for this time of the year.

Months of inventory numbered 4.9 at the end of December 2019, up slightly from the 4.7 months recorded at the end of December 2018 but only half the 10-year average of 9.8 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 December 2019 was $51 million, rising 21.1% from the same month in 2018.  This was a new record for the month of December.

Sales of all property types numbered 165 units in December 2019, down 2.4% (four sales) from December 2018.  The total value of all properties sold was $68.4 million, rising 12% from December 2018.

The REALTORS® Association of Grey Bruce Owen Sound represents approximately 400+ REALTORS® registered with its member offices. The geographical area served by the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.  “REALTOR® is a registered trademark of REALTOR® Canada Inc., a company partly owned by The Canadian Real Estate Association”.  Trademark used under license from The Canadian Real Estate Association. Information provided by the REALTORS® Association of Grey Bruce Owen Sound, Copyright 2020. E&OE.

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