Market Gains Continue as we Round out the 2020 Real Estate Season
When the words, “record-breaking” are used so often, do they lose their meaning? Not when the market has only continued to break records as we progress further into 2020!
In November alone, the REALTORS® Association of Grey Bruce Owen Sound sold 265 units through MLS, marking a 15.7% increase from the previous year. The MLS® HPI composite benchmark price, provided by the MLS® Home Price Index (HPI), also rose considerably by 19.6% over November 2019, to a total of $376,700.
It comes as no surprise then that the average price of homes sold throughout the month came in at $547,555, a 36.8% gain from this same time last year. In keeping that in mind, the dollar value of all home sales totalled $145.1 million! What makes this statistic truly incredible is the 58.3% growth over November 2019, showcasing totals increasing by more than half in one year alone.
On the other hand, residential listings dropped in number by 51.5%, with only 411 active listings available on the market at the end of November. The number of months of inventory, however, remains low at only 1.6, indicating a quick turnaround time, compared to the 6.7-month average typically observed this time of year.
With prices increasing, the number of active units decreasing and the incredible growth measured in 2020, it’s no wonder that November joins the string of record-breaking months for our area.
If you are considering selling, please give us a call. Our team will guide you throughout the entire process, and keep you informed on the latest market trends.
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Fun Holiday Reads!
Since this holiday season we are all staying to our bubbles, we wanted to share some fun holiday articles with you! Stay Safe Everyone!
Decorate Your Front Door for the Holidays
If the holidays snuck up on you this year, don’t worry! There’s still plenty of time to decorate your home. One project you can tackle pretty quickly, that will make a big festive impact, is your front door. Find some inspiration to create a beautiful door decoration below.
Mittens – Tie a pair of mittens together and fill them with greenery, white branches, berries, pinecones, and other seasonal accents.
Christmas Tree Wreath – Save the bottom branches that you cut off your Christmas tree to make a door wreath. Use some wire or string to tie the branches together in a wreath shape. Decorate the wreath with bows, ornaments, or seasonal flowers.
Herbs – Rosemary grows to around four feet in height, so it’s a great size to weave together into a wreath shape. Adding some thyme, berries, and ribbon will help to fill your wreath out and enhance the festive feel. Hang the wreath on your door, and each time you open it, you’ll waft a breeze of fresh herbs inside.
10 Stylish Ways to Stow Your Firewood This Winter
Click here for some nifty ideas for firewood storage that are both practical and visually pleasing!Listings
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NEW LISTING! COMING TO MLS SOON!
14 Glacial Terrace, Tobermory, ON
*2 bed / 2 bath * 2,000+sq.ft. * 103ft. Waterfront *
* Located on a Quiet Seasonal Roadway *
* Short Drive to Downtown Tobermory *
505371 Grey Rd. 1
- 4 bed / 3 bath
- 3800+ sq.ft.
- Attached Garage
- 270′ of Shoreline!
- Protected Channel
482 Dawson St.
- 4 bed / 2 bath
- 3000+ sq.ft.
- Detached Garage
- In-town location (Wiarton)
- Guest Accommodations