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Monday, August 13, 2018

Home Prices Continue To Rise

Grey Bruce | by Matt Hermiz  

Realtors Association says the average price of homes this July was up 12.5 per cent.

Real estate prices continue to rise in Grey Bruce Owen Sound.

The Realtors Association of Grey Bruce Owen Sound reports the average price of homes sold in July was a record $353,158 -- an increase of 12.5% compared to last year.

Year-to-date average price is $344,731 for January through July, an increase of 10.7% compared to the first seven months in 2017.

While prices continue to increase, the realtors association reports lower market activity.

Total units sold in July was 261, down 21.6% compared to the same period in 2017.

Overall, 1,716 homes have sold from January through July, which is a decrease of 18.2% from the first seven months of last year.

The Realtors Association also says supply remains at all-time lows with 969 active listings at the end of July, down 17.9% year-over-year.

Not a lot of sellers entering the market either with just 367 new listings in July, the lowest amount since the 1990s.

The total value of all home sales in Grey Bruce Owen Sound in July was $92.2-million, an 11.8% decline from July 2017.

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