How’s the Market? July 2019 Real Estate Market Update with Karen Cox

How’s the Market? July 2019 Real Estate Market Update with Karen Cox


Hi. it’s Karen here from Sea & Ski
Realty with your Monthly Real Estate Update. In the month of July, home sales
in Grey and Bruce were up 8.6 percent from July of 2018. While this is not a
record it, is a vast improvement from the last month when we were down 17 percent from June of 2018. The number of new residential listings in Grey Bruce was
448 units in July of 2019, an increase of 23.4 percent on a
year-over-year basis. We are making slow progress from the 25 year low of last
July. Overall supply, however, remains near record lows. Months of inventory number
at 3.7 at the end of July 2019,this is up slightly from 3.5 months of inventory
recorded at the end of July 2018 but below every other year and less than
half the long-run average of 9.6 months for this time of year. The
number of months of inventory is the number of months it would take to sell
current inventories at the current rate of sales activity. Now we’re going to
move into the local area. We’re gonna start with the Municipality of Grey
Highlands; the number of properties listed in July of 2019 is down 8%
compared to last month as well as July of 2018 while the number of sales is up
30% over both last month and as well as July of last year with the highest
number of sales being in the $3-4 hundred range. Meanwhile in the
municipality of West Grey, the number of new listings is down 56 percent
compared to last month and down nearly 42 percent compared to July of 2018 and
the number of properties sold is down 50 percent compared to last month but only
down around 6% from July of last year with the highest number of sales being
in the $4-5 hundred thousand range. The Municipality of Chatsworth has seen a slight decrease of 5% in the number of properties
listed from last month but is actually up 71 percent compared to July of last
year. The number of properties sold is up 56 percent from last month and up a
whopping 78 percent compared to July of 2018 with the highest number of
sales being in the $5-6 hundred thousand range. In the Municipality of
Meaford, there was an increase of 53 percent in the number of new listings
compared to last month but is only down about 5 percent from July of 2018. The
number of sales is up slightly with an 8 percent increase over last month but is
actually up 63 percent over the same month last year
with the highest number of sales being in the $3-4 hundred thousand range. Finally, the Municipality of the Town of the Blue Mountains has seen a 19 percent decrease
in the number of properties listed from last month but is up 41 percent compared
to July of last year, while the number of sales is up 58 percent from June and up
40 percent compared to July of 2018 with the highest number of sales being in the
$6-7 hundred thousand range. For more information, you can visit our
website at seaandskirealty.ca/blog. We hope you’re enjoying
this beautiful weather in August and we’ll see you again next month! Thank you.

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