Sunday, January 24, 2010

2009 ended on a HIGH note!

Annual sales activity in 2009 tops previous year
(Jan 19, 2010) The number of homes sold through the MLS® System of the REALTORS®
Association of Grey Bruce Owen Sound was up in 2009 from 2008 levels, bolstered by a stronger
performance in the second half of the year, particularly in the fourth quarter.
According to statistics provided by the Association, home sales numbered 108 units in December
2009, jumping 86 per cent from the same month in 2008.
Despite a year-over-year increase in the third quarter of the year, year-to-date activity had been
trailing 2008 levels until October. However, the fourth quarter of 2009 was one of the strongest
on record. As a result, annual sales in 2009 surpassed levels reported in 2008. Activity totalled
2,097 units in 2009, up four per cent from the previous year.
On a seasonally adjusted basis, home sales were up eight per cent month-over-month in
December (seasonal adjustment removes normal seasonal fluctuations). Seasonally adjusted
activity now stands 88 per cent above the low reached one year ago.
“Demand continued to improve right up until the end of the year,” said Karen Cox, President of
the REALTORS® Association of Grey Bruce Owen Sound. “The strong sales momentum seen at
the end of 2009 is likely to carry forward into the new year.”
The average price for homes sold in December 2009 was $211,220, an increase of 11 per cent
from December 2008. Annually, the average price for homes sold in 2009 was $205,490, edging
up two per cent from 2008.
The total dollar value of home sales in December 2009 was $22.8 million, more than double year ago levels and the highest dollar volume on record for the months of December. On an annual
basis, the dollar value of all home sales in 2009 rose six per cent to $430.9 million.
Total sales numbered 144 units, nearly twice the amount reported in December 2008. The total
value of all properties sold in December 2009 was $30.9 million, 116 per cent above one year earlier.
Strong demand and average price gains are beginning to draw more sellers back to the market.
New listings jumped 68 per cent from a year earlier to 156 units in December 2009. This was the largest increase in nearly two decades.
Active residential listings on the Association’s MLS® System were down seven per cent from
year-ago levels to 1,030 units at the end of December 2009. This is the fourth consecutive
decline in active listings.
The number of months of inventory stood at 9.5 months at the end of December 2009, well below the recessionary peak of 19.2 months reached one year earlier. 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.
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