Local real estate sales hit new high for February

·1 min read

Home sales reported by the Grey Bruce Owen Sound Realtors Association set a new record in February as prices continue to rise.

The dollar value of all home sales in February 2021 was $136.8 million, an astounding 73 percent higher than last February. This was also a new record for the month of February by a large margin.

February 2021 saw 233 properties sold through MLS. That was up more than 10 percent from February last year.

The Realtors Association has its own metric called the Home Price Index, which it says tracks price trends better than average or median price measures.

The overall MLS® HPI composite “benchmark” price was $414,000. That’s 30 percent higher than last February.

Looking at single-family homes, that benchmark price was $416,600, with a similar jump year over year. For townhouse/row units, it was $337,000, increasing by 3 percent compared to a year earlier.

In February 2021, the average price of homes sold rose by about 54 percent year-over-year to a record $613,373.

M.T. Fernandes, Local Journalism Initiative Reporter, Dundalk Herald