The housing market in Grey and Bruce counties remained hot in September.
The Realtors Association of Grey Bruce Owen Sound says the average price of homes sold last month surpassed $500,000 for the first time in history, surging 23.5 per cent higher on year-over-year basis.
The year-to-date average price of homes sold in the region for the first nine months of 2020 is $462,000, up 19 per cent over the same period last year.
The realtors association says 384 residential units sold in the area in September, a jump of more than 30 per cent over the same month in 2019.
Overall supply remains near record lows with only 584 active residential listings at the end of September, more than 45 per cent down year-over-year.
One metric indicates the market continues to move a quick pace as well. RAGBOS says months of inventory numbered 1.5 at the end of last month, down from the 3.7 months recorded at the end of September 2019. This number indicates how long it would take to sell current inventories at the current rate of sales activity.
The dollar value of all home sales last month set a new record high for the area in September at $192.8 million, a jump of more than 61 per cent over the same month in 2019.
The total value of all properties sold was $231.9 million, increasing substantially by 69.3 per cent from September 2019.
The Realtors Association of Grey Bruce Owen Sound covers a geographical area that includes Grey and Bruce counties, and part of Wellington County.