Homes sales in Grey Bruce Owen Sound declined in July by 27.7% from the same month in 2020. The Realtors Association says home sales were also just over 5% lower than the five year average.
327 units changed hands last month. The MLS benchmark price for single-family homes was $521,500, a substantial gain of 40.9% on a year-over-year basis in July.
On a year-to-date basis, home sales totaled 2,180 units over the first seven months of the year. This increased by 23.6% from the same period in 2020.
The dollar value of all home sales in July 2021 was $205.5 million, a decrease of 5.6% from the same month in 2020.
There were 397 new residential listings in July 2021. The number of new listings saw a big reduction of 10.4% from July 2020. Active residential listings numbered 584 units on the market at the end of July, a substantial decline of 21.3% from the end of July 2020.
New listings were 8.7% below the five-year average and 19.1% below the 10-year average for the month of July. Active listings haven't been this low in the month of July in more than three decades. Active listings were 38.4% below the five-year average and 67% below the 10-year average for the month of July.
Months of inventory numbered 1.8 at the end of July 2021, up from the 1.6 months recorded at the end of July 2020 and below the long-run average of 5.8 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.
