Grey Bruce Owen Sound home sales jumped 37.7 per cent year-over-year in June as prices continue to rise.
The REALTORS Association of Grey Bruce Owen Sound reports 369 homes changed hands in June of 2020. On a year-to-date basis, home sales totalled 1,215 units over the first six months of the year, down 2.4 per cent.
The average price of homes sold in June 2020 was $472,473, rising 21.4 per cent from June 2019. The more comprehensive year-to-date average price was $446,469, rising 19.2 per cent 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 per cent on a year-over-year basis.
The overall supply remains near record lows. Active residential listings numbered 765 units at the end of June. This was down 29.5 per cent from the end of June 2019.
Months of inventory numbered 2.1 at the end of June 2020, down from the four 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 per cent 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 per cent from June 2019. The total value of all properties sold was $198.4 million, a large increase of 50.9 per cent from June 2019.
