News & Press Releases
Grey Bruce Owen Sound home sales post record September
Posted On: Tuesday, September 15, 2015
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound came in well above year-ago levels in September 2015.
Home sales numbered 280 units in September 2015, rising 22.8 per cent from September 2014. This was a record for the month.
On a year-to-date basis sales activity was running 16.6 per cent ahead of the same period last year. This was the third best year-to-date period of any year and was also just the third time sales had surpassed 2,000 units at this time of year.
Sales of all types of properties numbered 335 units in September 2015, an increase of 17.1 per cent from the previous September.
The average price of homes sold in September 2015 was $231,592, rising 3.3 per cent on a year-over-year basis. The year-to-date average price figure was $243,574, up 7.4 per cent from the first three quarters of 2014.
New residential listings on the Association’s MLS® System numbered 362 units in September 2015. This was a decline of 17.9 per cent compared to September 2014.
Overall supply remains elevated compared to the past 15 years, however it appears that active listings have topped out and are now beginning to come down. Active residential listings totalled 2,219 units at the end of September, down seven per cent from the same time last year.
The number of months of inventory stood at 7.9 at the end of September, down from 10.5 months at the end of September 2014 and below the long-run average for this time of the year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all home sales in September was $64.8 million, up 26.8 per cent on a year-over-year basis. This was a record for the month of September and marked the first time dollar volumes had surpassed $60 million in this month.
The total value of all properties sold in September 2015 was $79.7 million, an increase of 17.3 per cent from a year earlier.
The REALTORS® Association of Grey Bruce Owen Sound represents approximately 360 REALTORS® registered with its member offices. The geographical area served by the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.