Home sales in Grey Bruce set a new October record.
The REALTORS® Association of Grey Bruce Owen Sound reported 385 residential units changed hands in October 2020.
Sales were up 31% compared to October of last year, but on a year to date basis, sales over the first ten months of the year were up almost 12% from that same time period in 2019.
The October sales update reported that the MLS Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for the REALTORS® Association of Grey Bruce Owen Sound was $385,500, rising 20.1% in October 2020 compared to October 2019. By comparison, the benchmark price for townhouses or row units was $322,800, edging up 2.4% compared to a year earlier. While the benchmark apartment price was $281,200, a large increase of 34.6% from year-ago levels.
Meantime, the average price of homes sold in October 2020 was a record $523,638, a notable gain of 31.6% from October 2019.
The year-to-date average price was $470,140, rising 20.8% from the first 10 months of 2019.
Overall supply remains at record lows. Active residential listings numbered 479 units at the end of October. This was a large decline of 50.4% from the end of October 2019.
