Home sales in Bruce Grey Owen Sound made a major comeback in 2024. The number of homes sold jumped over 41 per cent from 2023 to 2024.
On an annual basis, local home sales through the Multiple Listing System of the OnePoint Association of Realtors totaled 2,478 units in 2024.
Realtors sold 116 units in December 2024, which is up 81.3 per cent from December 2023. Home sales were 13.7 per cent above the five-year average and 4.6 per cent below the 10-year average for the month of December.
“Sales activity marked a rapid and significant recovery throughout 2024, boosting annual totals well above where they stood in the previous two years and nearly getting back on par with 2021,” said Bonnie Looby, President of the OnePoint Association of Realtors. “An exceptional increase in activity was spurred by a resurgence in new listings, with motivated sellers responding in force to renewed optimism from buyers who were gradually easing back into the market. Although the local market is at present close to buyer’s territory with above-average levels of supply, momentum is moving in the right direction and we are looking ahead to a more active spring market.”
The number of new listings spiked 75.2 per cent from December 2023. There were 177 new residential listings in December 2024, which was the largest number of new listings added in the month of December in more than a decade.
The MLS Home Price Index (HPI) composite benchmark price was $569,200 in December 2024, a modest gain of 2.9 per cent compared to December 2023.
"The benchmark price for single-family homes was $577,500, up modestly by 3 per cent on a year-over-year basis in December," the Association reported. "By comparison, the benchmark price for townhouse/row units was $478,500, essentially unchanged, down just 0.7 per cent compared to a year earlier, while the benchmark apartment price was $370,300, a small gain of 1.6 per cent from year-ago levels."
In all, $73.3 million in residential property changed hands in December, a jump of 71 per cent from the same month in 2023.