The race to rural Ontario continues

·1 min read

House sales in Grey and Bruce counties rose about 30 percent in October, from the same month in 2019.

Numbers reported by the Realtors Association of Grey Bruce Owen Sound on Nov. 10 totaled 385 units last month. That was a new sales record for the month of October.

At this point in 2020, total house sales are up about 12 percent from where they were in October, 2019.

The average sale price of a house sold last month in the area was a record $523,638.

The MLS® has its own Home Price Index that it regards as more accurate than using simple average or mean prices.

Its composite benchmark price in the area was $385,500 and the “more comprehensive” year-to-date average price was $470,140.

The realtors association reports that overall the supply of listings is still at record lows – half of the number at the end of October 2019.

The dollar value of all home sales in October 2020 was more than $200 million – also a new record for the month of October. About 500 properties of all types sold in October, with a total value of about $245 million – more than 85 percent up from October 2019.

The Grey Bruce Owen Sound area association has about 400 member realtors. Its area is bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.

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