Prices up, to­tal sales down in real es­tate mar­ket

The Sun Times (Owen Sound) - - NEWS -

The av­er­age price of homes sold in Grey-Bruce set a new record in April at close to $350,000.

The av­er­age price was $349,608, up 9.1 per cent from April 2017, ac­cord­ing to the most re­cent sta­tis­tics from the Real­tors As­so­ci­a­tion of Grey Bruce Owen Sound.

The year-to-date av­er­age price for 2018 was $339,745, an in­crease of 10.3 per cent from the first four months of 2017.

The value of all homes sold in April was $109.1 mil­lion, down 4.1 per cent from the same month in 2017.

Res­i­den­tial sales to­talled 312 units in April, a de­cline of 12.1 per cent from the record month of April 2017, but tied with 2016 for the sec­ond best April ever in the re­gion, the news re­lease said.

On a year-to-date ba­sis, 788 units have been sold, a de­crease of 18.3 per cent from the first four months of 2017.

Over­all sup­ply sits at record lows with ac­tive res­i­den­tial list­ings to­talling 744 units at the end of April, down 21 per cent from April 2017. There were 398 new res­i­den­tial list­ings last month, a de­crease of 17.4 per cent from a year ear­lier and the low­est level of new sup­ply for the month if April in three decades.

The to­tal months of in­ven­tory at the end of April was 2.4 months, down from 2.7 months at the end of April 2017 and well be­low the long-run av­er­age of 7.6 months for the time of year.

Sales of all prop­erty types num­bered 381 units in April, a de­crease of 16.8 per cent from April 2017, while the to­tal value of all prop­er­ties sold was $133.4 mil­lion, up just over 2 per cent from April 2017.

RAGBOS rep­re­sents ap­prox­i­mately 380 real­tors reg­is­tered with mem­ber of­fices in a re­gion that Grey, Bruce and part of Welling­ton coun­ties.

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