Home sales in Grey Bruce hit new record in March as competition was hot and prices continue to rise. The REALTORS® Association of Grey Bruce Owen Sound reports 337 units sold in March 2021. That’s up 53.9% from March 2020. This was also a new sales record for the month of March. On a year-to-date basis, home sales totaled a record 702 units over the first three months of the year. This was up by 24.2% from the same period in 2020.
A media release from the association says The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $428,900 in March 2021, up sharply by 32.1% compared to March 2020. The year-to-date average price was $613,678, a jump of 46.2% from the first three months of 2020.
The number of new listings saw a gain of 20.7% from March 2020. There were 431 new residential listings in March 2021. This was the largest number of new listings added in the month of March in five years. Active residential listings numbered 370 units on the market at the end of March, down sharply by 49.1% from the end of March 2020. Active listings haven’t been this low in the month of March in more than three decades.
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Author: Janice MacKay