Grey Bruce Market Update September 2019

Grey Bruce Owen Sound Home Sales Remain Strong For Second Straight Month In September

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 292 units in September 2019.  This was a large 33.9% increase
from September 2018 and was among the better September sales figures in history.  On a year-to-date basis, home sales totalled 2,170 units over the first nine months of the year, edging down 2.3% from the same period in 2018.

The average price of homes sold in September 2019 was $404,914, jumping 12.6% from September 2018The more comprehensive year-to-date average price was $389,411, up 8.8% from the first nine months of 2018.

New residential listings in the region numbered 380 units in September 2019, an increase of 13.8% on a year-over-year basis though still below most of the last decadeOverall supply remains near record lows.  Active residential listings numbered 1,018 units at the end of September.  While this was up 9.9% from the end of September 2018, it remains below the same time in every other year in history.

Months of inventory numbered 3.5 at the end of September 2019, down from the 4.2 months recorded at the end of September 2018 and a record low 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 2019 was $118.2 million, surging 50.9% from the same month in 2018.  This was a new record for the month of September.
Sales of all property types numbered 362 units in September 2019, an increase of 21.9% from September 2018.  The total value of all properties sold was $139.3 million, jumping 40.8% from September 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 2019. E&OE.

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