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APRIL 2016 Market Update & Statistics

Blog by Michelle Wright | May 9th, 2016

Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound came in even with last year's record level in April 2016. Home sales numbered 274 units in April 2016.

Sales of all types of properties numbered 340 units in April 2016, up 4.9% from the previous April.

The average price of homes sold in April 2016 was $254,938 up 8.7% on a year-over-year basis. On a year-to-date basis the average price of home sales in the first four months of 2016 was $253,914, rising 6.5%.

New residential listings on the Associations MLS® System numbered 604 units in April 2016. This was a decrease of 8.5% compared to April 2015.

Active residential listings totalled 1,514 units at the end of April, down 27% from the same time last year.

The number of months of inventory stood at 5.5 at the end of April, down from 7.6 months at the end of April 2015 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 April was $69.9 million, up 8.7% on a year-over-year basis.

The total value of all properties sold in April 2016 was $88.5 million, an increase of 10.3% from a year earlier.

Source: REALTORS® Association of Grey Bruce Owen Sound