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The housing market in Grey-Bruce started 2021 as the tightest it has been in recent memory. And prices remain at record levels in the region.
The number of active residential listings at the end of January totalled 284, down 10 from the end of December and the lowest it has been for the month in more than three decades, according to the Realtors Association of Grey Bruce Owen Sound.
Prices continued to reflect the tight seller’s market, with the average price for January just over $549,000, an increase of close to 34 per cent from January 2020.
The MLS Home Price Index, which tracks price trends using average or median price measures, saw its overall composite benchmark price increase 28.2 per cent from the same month a year ago to $399,100.
The benchmark price for single-family homes was up 29.2 per cent to $400,900, for apartments was up 34.1 per cent to $281,500, while for townhouses and row units, was up just 2.4 per cent to $329,700.
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The number of homes sold in January were at their highest level in five years for the month totalling 149 units, which was up two sales from January 2020, according to RAGBOS, which represents more than 400 realtors in Grey, Bruce and part of Wellington counties.
The combined dollar value of all those homes was $81.8 million, an increase of 35.6 per cent from January 2020 and a record for the month.
There were just 173 new residential listings in the month, which was down 21.4 per cent from the same month a year earlier, while the months of inventory at the end of the month stood at just 1.9 months, down from 4.6 months at the end of January 2020. The long-run average for the time of year is 8.8 months.
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