RAGBOS March Real Estate Statistics
Home sales down in March
Residential sales
activity recorded through the MLS® System of the
REALTORS® Association of Grey Bruce Owen Sound was
down on a year-over-year basis in March 2011, albeit
from one of the strongest ever months of March in
2010.
Home sales numbered
157 units in March 2011, a decline of 21 per cent
from the near-record March last year. Total sales
numbered 205 units, 23 per cent fewer than in March
2010.
“Sales activity
continues to run about halfway between all-time
record highs and the low we saw at the depth of the
recession,” said Trish
McKeeman, President of the REALTORS® Association of
Grey Bruce Owen Sound. “The big decline from
last year is largely a reflection of the blistering
pace of demand last March.”
The average price of
homes sold in March 2011 was $202,345, down three
per cent from the same month in 2010.
New residential
listings on the Association’s MLS® System declined
17 per cent year-over-year to 445 units in March
2011. New listings have declined in six of the past
seven months. Active residential listings totalled
1,476 units at the end of March, edging up
eight-tenths of one per cent from the same month in
2010. This is the smallest increase in 13 months.
The number of months
of inventory stood at 10.1 at the end of March 2011
on a seasonally adjusted basis, up from 9.8 months
in 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 2011 was $31.8 million,
falling 23 per cent on a year-over-year basis. The
total value of all properties sold in March 2011 was
$41.4 million, down 24 per cent from a year earlier.
The REALTORS®
Association of Grey Bruce Owen Sound represents
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.
