June 2020 Market Update - Mark Murakami | Grey County Homes | Flesherton Real Estate

June 2020 Market Update

Grey Bruce Owen Sound Home Sales Jump 37.7% Year Over Year In June,

While New Listings Continue To Recover

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 369 units in June 2020.  This was a large increase of 37.7% from June 2019.  This was also a substantial increase in activity from the lows seen in recent months.

On a year-to-date basis, home sales totalled 1,215 units over the first six months of the year.  This edged down 2.4% from the same period in 2019.
The average price of homes sold in June 2020 was $472,473, rising 21.4% from June 2019. This was a slight pull back from last month.  The more comprehensive year-to-date average price was $446,469, rising 19.2% from the first six months of 2019.

New residential listings in the region numbered 429 units in June 2020.  This was a decrease of 12.6% on a year-over-year basis.  Overall supply remains near record lows.  Active residential listings numbered 765 units at the end of June.  This was down 29.5% from the end of June 2019.

Months of inventory numbered 2.1 at the end of June 2020, down from the 4 months recorded at the end of June 2019 but below the long-run average of 6.8 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 June 2020 was $174.3 million, surging 67.2% from the same month in 2019.  This was a new record for the month of June and was also the largest
dollar value of homes sold for any month in history by a wide margin.

Sales of all property types numbered 443 units in June 2020; this was an increase of 28.8% from June 2019.  The total value of all properties sold was $198.4 million, a large increase of 50.9% from June 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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