News & Press Releases
Grey Bruce Owen Sound home sales almost match May’s record in June
Posted On: Friday, July 8, 2016
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound just missed reaching the highest level on record in June 2016.
Home sales numbered 330 units in June 2016, rising 9.3 per cent on a year-over-year basis. This was just two sales short of the all-time record set in May 2016.
On a year-to-date basis home sales were running 15.1 per cent ahead of the first half of 2015. This was a record for the period.
The average price of homes sold in June 2016 was a record $264,321, up 3.3 per cent on a year-over-year basis. On a year-to-date basis the average price of home sales in the first half of 2016 was $255,775, rising 3.6 per cent.
New residential listings on the Association’s MLS® System numbered 465 units in June 2016. This was a decrease of 20.1 per cent compared to June 2015.
Active residential listings totalled 1,481 units at the end of June, down 41.4 per cent from the same time last year.
The number of months of inventory stood at 4.5 at the end of June, down from 8.4 months at the end of June 2015 and well 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 June was $87.2 million, up 12.9 per cent on a year-over-year basis. This was the highest level of any month on record.
Sales of all types of properties numbered 384 units in June 2016, up 5.5 per cent from the previous June. The total value of all properties sold in June 2016 was $99.5 million, an increase of 10.2 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.