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Tuesday, September 18, 2018

Grey Bruce Real Estate Numbers Are Up

Regional | by Matt Hermiz  

The price of homes continues to climb while supply is at an all-time low.

Residential real estate prices in the Bruce Grey Owen Sound region pushed to record highs in August, while supply remains at all-time lows.

The Realtors Association of Grey Bruce Owen Sound says the average price of homes sold last month was $443,865, surging up 43.2% compared to August 2017.

However, RAGBOS says the magnitude of the overall average price gain was tied to one unusually expensive residential property sale.

Without it, year-over-year prices rose 17.7% to $364,640.

In all, 284 residential properties sold in the region in August, which is down 9.3% from last year.

Over the first eight months of 2018, total home sales are down 16.8% compared to 2017 with 2,011 units changing hands.

Average year-to-date price is up 15.2% to $358,052.

RAGBOS says supply is still at all-time lows with 913 active listings at the end of last month, down 19.5% from the end of August 2017.

There were only 353 new listings in August, the lowest amount to hit the market in the month since 2002.

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