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Monday, December 10, 2018

Real Estate Market Cools in November

Grey Bruce | by Matt Hermiz  

Average price rises year-over-year, while most other indicators decline compared to November 2017

Home sales in Bruce-Grey-Owen Sound were down on a year-over-year basis in November, while prices continued to tread higher.

The Realtors Association Grey Bruce Owen Sound (RAGBOS) says 190 units changed hands last month, a 16.3 per cent decrease compared to November 2017.

The average price of homes sold in the region in November was just over $343,000, a 10.8 per cent increase compared to last year.

Meanwhile, the year-to-date average price is now $358,000 for the first 11 months of 2018 -- a 15.4 per cent increase over 2017.

RAGBOS says supply remains at record lows, with just 667 active residential listings at the end of November, down 9.6 per cent year-over-year.

All home sales in the region last month totalled $65.3-million, a 7.3 per cent decline from November 2017.

Sales of all property types were 244 units, a drop of 13.8% from November 2017. While the total value of all properties sold was $78.6-million, down 6.5 per cent year-over-year.

RAGBOS says last month's number of residential units sold was still slightly above the 10-year average for November.

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