The REALTORS® Association of Grey Bruce Owen Sound has reported home sales are still trending at below-average levels. However, the monthly report pointed out that MLS sales are showing promising signs of a rebound on a monthly basis.
The number of homes sold totaled 154 units in February 2023. This was a substantial decrease of 26.3 per cent from February of 2022. On a year-to-date basis, home sales totaled 267 units over the first two months of the year. This was a big decline of 30.8 per cent from the same period in 2022.
The MLS® Home Price Index composite benchmark price was $523,100 in February 2023, a reduction of 14.7 per cent compared to February of 2022. The average price of homes sold in February 2023 was $640,482, representing a decline of 16.8% from February 2022. The more comprehensive year-to-date average price was $608,877, a sharp decrease of 20.2% from the first two months of 2022.
The number of new listings saw an increase of 12% from February 2022. There were 290 new residential listings in February 2023. This was the largest number of new listings added in the month of February in more than five years.
