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Grey Bruce Owen Sound Home Sales Almost Match May's Record in June


Blog by Michelle Wright | July 11th, 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% on a year-over-year basis. This was just 2 sales short of the all-time record set in May 2016.

On a year-to-date basis home sales were running 15.1% 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% 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%.

New residential listings on the Association's MLS® System numbered 465 units in June 2016. This was a decrease of 20.1% compared to June 2015.

Active residential listings totalled 1,481 units at the end of June, down 41.4% 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% 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% from the previous June. The total value of all properties sold in June 2016 was $99.5 million, an increase of 10.2% from a year earlier.

Source: REALTORS® Association of Grey Bruce Owen Sound