Market UpdateStarting the Year With a Historically Low Number of Listings
We’ve made it through 2020 and are eagerly waiting to see what 2021 has in store! January has already shown us that the real estate market continues to be strong, with there being a high demand for properties across Grey Bruce and Owen Sound.
The REALTORS® Association of Grey Bruce Owen Sound has reported that 149 homes were sold through MLS in January alone. This marks an increase of only two sales (1.4%) compared to January of last year. We have collectively not seen this level of sales in January in five years.
The record-breaking streak continues! Despite fewer listings, the price of homes sold increased, with the average reaching $549,056 in January. This marks a 33.8% increase from January 2020. Overall, the dollar value of homes sold equalled $81.8 million, increasing by 35.6% from the previous year and establishing another market record.
With 173 new residential listings hitting the market in January, we saw a decrease of 21.4% of new listings compared to last year. There were 284 active residential listings at month’s end, more than half lower (57.6%) than the previous year. There haven’t been these few active listings in January in more than thirty years!
Properties are continuing to move quickly with the spring season almost upon us. If you are interested in selling, contact us! We will walk you through the process and help take your listing from For Sale to Sold.
Buying or Selling During COVID-19
If you are wanting to buy or sell but are feeling nervouse because of the pandemic, please reach out to us! We would be happy to explain what the real estate industry is doing to keep everyone safe. During this time we are observing strict protocols and guidelines as we conduct our business. Myself and our team would be happy to explain these measures to you so you feel confident in buying or selling this year!
Additionally, understanding the current market trends is important if you are planning on buying or selling. If you have questions regarding the market update above and the COVID safety precautions in place, please reach out to us! Email, text, or phone call – whatever you are most comfortable with!
YOUR BRUCE PENINSULA REAL ESTATE TEAM519-596-2255 or email@example.com
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Mulled Wine: Warm and Comforting from the Slow Cooker
As the weather remains below freezing, enjoy a glass of this as you read a good book in front of a cozy fire. Check out the recipe here!
How To Tarp A Roof In An Emergency
We hope to never need to use this information, but should you ever need to tarp your roof you’ll now know how! Check out how-to here!
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*not intended to solicit any property already listed for sale or any buyer currently under buyer representation.