Home sales in Grey Bruce Owen Sound dropped sharply, by 18.6% in March, over the same month in 2021. The number of homes sold through the MLS® System of the REALTORS® Association totaled 271 units in March.
Home sales were 10.1% above the five-year average and 16% above the 10-year average for the month of March. On a year-to-date basis, home sales totaled 655 units over the first three months of the year. This was a moderate decrease of 6% from the same period in 2021.
The MLS® Home Price Index composite benchmark price was $603,500 in March 2022, increasing by 28.5% compared to March 2021. By comparison, the benchmark price for townhouse/row units was $488,800, up sharply by 40.4% compared to a year earlier, while the benchmark apartment price was $386,400, a substantial increase of 45.9% from year-ago levels.
The average price of homes sold in March 2022 was $759,427, increasing by 17.4% from March 2021. The more comprehensive year-to-date average price was $760,693, a gain of 23.6% from the first three months of 2021. The dollar value of all home sales in March 2022 was $205.8 million, down by 4.4% from the same month in 2021.
The number of new listings saw a substantial decrease of 14.4% from March 2021. Active residential listings numbered 338 units on the market at the end of March, a moderate decrease of 9.6% from the end of March 2021. Active listings haven't been this low in the month of March in more than three decades. Active listings were 41.6% below the five-year average and 69.5% below the 10-year average for the month of March.