The REALTORS® Association of Grey Bruce Owen Sound reports the year-to-date average residential selling price was $632,216, a jump of 46.1% from the first five months of 2020. The MLS benchmark price for single-family homes was $505,600, up sharply by 41.8% on a year-over-year basis in May.
The dollar value of all home sales in May 2021 was $245.5 million, more than double the levels from a year earlier, rocketing up 130% from the same month in 2020. This was a new record for the month of May and was also the largest dollar value of homes sold for any month in history. The 368 home sales in May represents a nearly 66% increase from a year ago.
In Grey Bruce, home sales were 7.5% above the five-year average and 8% above the 10-year average for the month of May. On a year-to-date basis, home sales totaled 1,462 units over the first five months of the year. This was up sharply by 59.4% from the same period in 2020. The number of new listings saw an advance of 48.9% from May 2020. There were 518 new residential listings in May 2021. New listings were 1.7% below the five-year average and 20.2% below the 10-year average for the month of May.
Active residential listings numbered 509 units on the market at the end of May, down sharply by 37.9% from the end of May 2020. Active listings haven't been this low in the month of May in more than three decades. Active listings were 41.7% below the five-year average and 69.5% below the 10-year average for the month of May.
