Market Update – April 2020

From The Blog

22 May 2020

Grey Bruce Owen Sound Housing Market Put On Pause In April As Communities

Follow Public Health Guidelines

Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 119 units in April 2020.  This was a large decline of 53.7% from April 2019 and was one of the lowest level of sales on record for the month.  On a year-to-date basis, home sales totalled 657 units over the first four months of the year.  This edged down 3% from the same period in 2019.

The average price of homes sold in April 2020 was $400,103, up 4% from April 2019.  The more comprehensive year-to-date average price was $418,980, rising 14.7% from the first four months of 2019.

New residential listings in the region numbered 205 units in April 2020.  This was a large decline of 49.8% on a year-over-year basisOverall supply remains near record lows.  Active residential listings numbered 692 units at the end of April.  This was a decrease of 15.7% from the end of April 2019.

Months of inventory numbered 5.8 at the end of April 2020, up from the 3.2 months recorded at the end of April 2019 but below the long-run average of 6.6 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 April 2020 was $47.6 million, declining by 51.8% from the same month in 2019.

Sales of all property types numbered 148 units in April 2020; this was a decline of 58.2% from April 2019.  The total value of all properties sold was $56 million, declining by 58% from April 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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