This small Ontario market just set another price record

Home sales in the 106,000-population region of Grey Bruce Owen Sound and Wellington were down in May from their record-breaking performance last year but the market remained solid.

Sales of 339 units is 20.2% lower than May 2017 but beat almost every other May on record. Year-to-date sales were 18.8% down year-over-year at 1,128.

Meanwhile, there was a new record for average prices of homes sold in May with a 9.1% rise year-over-year to $350,834. The year-to-date average price was $343,295, rising a similar 10% from the first five months of 2017.

The figures from the Realtors Association of Grey Bruce Owen Sound also reveal a decrease in new listings of 11.2% on a year-over-year basis and a nine-year low for the month of May.

Inventory is just 2.7 months with a record-low 902 units at the end of May, down 16.3% from May 2017.

The dollar value of all home sales in May 2018 was $118.9 million, decreasing by 12.9% from the record for the month seen in 2017.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?