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Wednesday, November 14, 2018

Grey Bruce Home Prices Climb in October

Grey Bruce | by Matt Hermiz  

RAGBOS reports year-over-year price increase of 17%, supply still at all-time lows

Residential real estate prices in Grey Bruce continued to climb in October, while supply still sits at all-time lows.

The Realtors Association Grey Bruce Owen Sound says the average price of homes sold last month was $376,956, a 17 per cent increase compared to October 2017.

The year-to-date average price for 2018 in the region is just over $360,000, a 15.8 per cent increase over the first 10 months of 2017.

In all, 281 units were sold in October which is a 9.4 per cent decrease year-over-year, but still the third best October sales figure in history after 2016 and 2017.

The Realtors Association says 300 new residential listings hit the market last month, a 17.6 per cent decrease compared to 2017.

There were 786 active listings at the end of October and according to the Realtors Association, supply continues to run at record lows.

In all, the value of all home sales in Grey-Bruce-Owen Sound in October was $105.9 million, up six per cent compared to 2017.

The Realtors Association says this is the first time in history October home sales in the region topped the $100-million mark.

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