Average home price scales new heights in April.....
The residential average price for homes sold through the MLS® System of the REALTORS®
Association of Grey Bruce Owen Sound rose to the highest level on record in April 2010.
Meanwhile, the supply of homes for sale on the market continues to grow. According to statistics provided by the Association, the average price for homes sold in April 2010 was $224,157, rising 17 per cent from a year earlier. Home sales numbered 210 units in April 2010, up 15 per cent from the same month in 2010.
This is the eighth consecutive double-digit increase in sales activity. “Demand continues to run strong, and this is putting upward pressure on prices,” said Karen Cox, President of the REALTORS® Association of Grey Bruce Owen Sound. “However, recent supply gains are bringing some balance back to the marketplace.”
The number of new listings on the Association’s MLS® System was up 22 per cent from yearago
levels to 604 units in April 2010. This is a record for new supply in the month of April.2010. This is also a record, up 12 per cent from April 2009. The dollar value of all home sales in April 2010 was $47.1 million. This is the highest level on record for the month, up 35 per cent on a year-over-year basis. Total sales numbered 293 units, 26 per cent higher than in April 2009. The total value of all
properties sold in April 2010 was $65.2 million, up 46 per cent from a year earlier.
The number of months of inventory stood at 8.3 months at the end of April 2010, down slightly
from 8.6 months last April. 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 2010. E&OE.
