January 2020 Market Update

From The Blog

23 February 2020

Grey Bruce Owen Sound Home Sales Miss Record January By A Single Sale

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 141 units in January 2020. This was a 23.7% jump from January 2019 and stood just one sale below the record for the month set back in 2007.

The average price of homes sold in January 2020 was $419,972, surging 22.4% from January 2019.

New residential listings in the region numbered 202 units in January 2020, an increase of 14.8% on a year-over-year basis. That said, it was still on the low side for this time of the year. Overall supply remains near record lows. Active residential listings numbered 620 units at the end of January, up 4.9% from the end of January 2019.

Months of inventory numbered 4.4 at the end of January 2020, down from the 5.2 months recorded at the end of January 2019 and less than half the 10-year average of 10.9 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 January 2020 was $59.2 million, a large 51.4% increase from the same month in 2019 and a new record for the month of January.

Sales of all property types numbered 177 units in January 2020, up 16.4% from January 2019. The total value of all properties sold was $73.2 million, rising 27.4% from January 2019.

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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