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Thursday, May 17, 2018

Home Prices Rise in Grey Bruce

Grey Bruce | by Matt Hermiz  

Realtors Association says supply remains at record lows

Real estate prices in Grey Bruce continued to push higher in April.

The Realtors Association Grey Bruce Owen Sound says the average price of homes sold in the month was $349,608, up 9.1% compared to April 2017.

Meanwhile, the Canadian Real Estate Association says national average prices plunged 11.3% to just over $495,000.

Supply remains at all-time lows in the region with 744 active residential listings at the end of April, down 21% year-over-year.

The Realtors Association says new listings in April were the lowest in three decades at 398, a 17.4% decrease compared to 2017.

A total of 312 units were sold in the Grey Bruce and Wellington areas, which is down 12.1% from the record April 2017, but still near tied with the second best April sales figure in 2016.

Total home sales in the region in April was $109.1-million, a 4.1% drop year-over-year.

The Realtors Association says 788 homes have been sold through the first four months of 2018, an 18.3% drop from the same period last year.

The average price through four months is $339,745, a 10.3% increase over 2017.


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