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Friday, March 8, 2019

Grey Bruce Real Estate Market Cools in February

Grey Bruce | by Matt Hermiz  

RAGBOS reports slowdown compared to year-end, although February sales remain steady year-over-year

The Realtors Association Grey Bruce Owen Sound reports there was a "noticeable slowdown" in home sales last month compared to momentum seen in the market at the end of 2018.

However, RAGBOS says the 137 units sold still represents a 1.5 per cent increase in market activity compared to February 2018. 

Prices also continued to climb higher year-over-year, with the average home selling for just over $364,000 last month -- a 10% increase compared to February 2018.

The Realtors Association says supply remains near record lows with 605 active residential listings at the end of February. That is up nearly 10 per cent compared to February 2018, but still sits well below the long-term average near 1,500 listings.

The total value of all home sales last month was $49.9-million, up 11.6 per cent from the same month in 2018.

RAGBOS says sales of all property types in Grey Bruce Owen Sound last month was 175 units, a 6.7 per cent increase compared to last February.

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