Southwest Ontario market misses February record

by Steve Randall10 Mar 2017
It was close, but real estate agents in the Southwest Ontario market of Grey Bruce Owen Sound narrowly missed out on a new sales record last month.

There were 161 units sold, just three below the 2006 record, but 1.2 per cent below February 2016’s total. Year-to-date sales slipped 6.4 per cent year-over-year to 265 sales.

Sales were under pressure from a drastic slump in inventory, which was down 42 per cent year-over-year to the lowest level since the 1980’s; new listings were also the lowest for almost three decades and down 22.5 per cent from February 2016.

The Realtors Association of Grey Bruce Owen Sound also reported a 2.2 per cent rise in the average price of a home, at $268,076; the year-to-date average increased 4.5 per cent to $262,815

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