March a record month for home sales Grey Bruce Owen Sound

Source: RAGBOS

Realtors Association of Grey Bruce Owen Sound
April 16, 2012

For the full news release click here.


A news release from RAGBOS appears to demonstrate that real estate activity and prices are doing quite well right in the midst of wind turbine country.

According to the RAGBOS website, they represent approximately 360 REALTORS® registered with its member offices. The geographical area served by the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.

Of course, that area is also the home to some of Ontario's largest existing and proposed wind farms.  As a matter of fact, when you read the news release, it appears that the RAGBOS realtors and their clients  must be pretty happy.

"Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound came in well above year-ago levels for the third consecutive month in March 2012.

Home sales numbered 206 units in March 2012, up 31 per cent from the same month last year. This represents the best March sales figure ever reported. Sales of all property types numbered 261 units in March 2012, up 27 per cent on a year-over-year basis.

On a year-to-date basis, sales activity was running 25 per cent ahead of the first three months of 2011.

The average price of homes sold in March 2012 was $225,087, rising 11 per cent from a year earlier.

New residential listings on the Association’s MLS® System numbered 640 units in March 2012, an increase of 44 per cent compared to March 2011. The large increases in new listings have been holding steady with increases in demand, which is keeping the market in balance.

The overall supply of homes for sale on the market also remains elevated. Active residential listings totalled 1,794 units at the end of March, rising 22 per cent from the same month in 2011.

The number of months of inventory stood at 8.8 at the end of March 2012 on a seasonally adjusted basis, down from 9.8 months at the end of February. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in March 2012 was $46.4 million, up 46 per cent on a year-over-year basis. The total value of all properties sold in March 2012 was $59.8 million, a 45 per cent gain from a year earlier."