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Monday, September 16, 2019

Real Estate Market Activity Increases in August

Owen Sound | by Matt Hermiz  

Realtors Association of Grey Bruce Owen Sound reports strong month.

August was a hot month for real estate in Bruce-Grey-Owen Sound.

The Realtors Association Grey Bruce Owen Sound (RAGBOS) says residential market activity surged 17.7 per cent compared to the same month in 2018, with 333 homes sold in total.

RAGBOS says it was the third best August sales figure ever, after 2016 and 2017.

The average price of homes sold last month was just over $411,000 -- down 7.4 per cent from August 2018. However, RAGBOS notes the 2018 figure was the result of one unusually expensive residential property sale. Without it, prices last month increased by 12.8 per cent over August 2018.

The realtors' association notes the comprehensive year-to-date average price for the first eight months of 2019 was just over $387,000 -- an increase of 8.2 per cent over the same period in 2018.

Overall, supply remains near record lows. However, RAGBOS notes the active number of residential listings at the end of August was 1,085 -- up 17.3 per cent year-over-year.

In all, the value of home sales in August 2019 in the region was $137-million -- 8.9 per cent higher than the same month in 2018.

RAGBOS says it marks the largest dollar value of home sales locally in any month in history.
 

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