July was a hot month for real estate in Grey and Bruce counties.
The Realtors Association of Grey Bruce Owen Sound reports 413 residential units sold in the month, a 37.7 jump over July 2020. It also set a new homes sales record for the month of July and marked the second highest level of any month — behind May 2017 — according to the realtors association.
Average home prices in Grey Bruce continue to climb higher. RAGBOS says the average residential unit sold for just over $482,000 in July 2020, a 17.2 per cent jump over the same month last year.
The year-to-date average average price in 2020 through the end of July is more than $455,000, over 19 per cent higher than the first seven months of 2019.
The realtors association says overall supply remains near record lows. Active residential listings numbered only 707 units at the end of July, a 38.2 per cent drop compared to the end of the same month last year.
One metric indicates the housing market is moving quicker too. Months of inventory were just 1.7 at the end of July 2020 — an all-time low, according to RAGBOS.
The dollar value of all home sales in July 2020 was $199.2 million, surging 61.3 per cent from the same month in 2019. It marks the largest monthly dollar value of homes sold in the area in any month in history.
The total value of all properties sold was $229.3 million, rising 58.7 per cent from July 2019.
The Realtors Association of Grey Bruce Owen Sound covers a geographical area that includes Grey and Bruce counties, and part of Wellington County.