(Dec 9, 2009) The MLS® residential average price for homes sold in the area served by the REALTORS® Association of Grey Bruce Owen Sound rose to the highest level on record in November 2009. Sales activity was also strong in November, though activity edged back from October’s record levels.
According to statistics provided by the Association, the average price for MLS® home sales in November 2009 was $217,463 – the highest average value ever reported. This is an increase of 14 per cent from November 2008. The large year-over-year gain not only reflects current strength, but also a weak showing last year.
MLS® home sales numbered 146 units in November 2009. This is up 32 per cent from the same month last year, when news of the global financial crisis hammered consumer confidence.
“The strong and sustained rebound in demand has stabilized the marketplace, and we’re seeing that reflected in prices,” said Neil Devlin, President of the REALTORS® Association of Grey Bruce Owen Sound.
The total dollar value of MLS® home sales in November 2009 was $31.7 million, 50 per cent above year-ago levels.
Total MLS® sales numbered 210 units, an increase of 39 per cent from November 2008. The total value of all MLS® properties sold in November 2009 was $45.6 million, rising 62 per cent from one year earlier.
New listings were up 18 per cent from a year earlier to 264 units in November 2009. In contrast, active residential listings on the Association’s MLS® system dropped 11 per cent from year-ago levels to 1,220 units at the end of November 2009.
The number of months of inventory stood at 8.4 months in November 2009, down from 12.3 months in the same month last 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 REALTORS® Association of Grey Bruce Owen Sound represents approximately 350 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.
"REALTOR® is a registered trademark of REALTOR® Canada Inc., a company partly owned by The Canadian Real Estate Association". Trademark use under license from The Canadian Real Estate Association.
Information provided by the REALTORS® Association of Grey Bruce Owen Sound, Copyright 2009. E&OE.
Port Elgin AND Southampton real estate information including homes for sale. The opinions posted on this blog are that of the writers, Jason Steele who is a registered Real Estate Broker in Ontario, Canada. *Readers are cautioned to check the validity of each topic. FOUR SEASONS REALTY BROKERAGE IS LOCATED IN COLLINGWOOD ONTARIO. http://www.greybrucearea.com
1 comment:
Excellent news...hey I had a neigbor that listed their home last year. On the final week of the listing, they had an offer which they rejected becuase they decided not to sell their home. They just listed it two weeks ago again, $15,000 less, and now have an offer...too bad they didn't sell last year because she told me the offer was full price!
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