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Home Sales Stable in September
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound held steady in September 2011 compared to the previous two months.
Home sales numbered 208 units in September 2011. This was little changed from levels in July and August, but marked a four per cent decrease when compared to September 2010.
Sales of all property types numbered 259 units in September, down six per cent decrease from September 2010.
The average price of homes sold in September 2011 was $217,876. This was down four per cent from the average selling price in September 2010 which was, at that time, the highest monthly average price ever recorded in the region.
New residential listings on the Association's MLS® System numbered 411 units inSeptember 2011. This was an increase of 17 per cent on a year-over-year basis.
Active residential listings totalled 1987 units at the end of September, rising 15 per cent from the same month in 2010. The overall supply of homes for sale on the market is currently running at decade high levels.
The number of months of inventory stood at 10.4 at the end of September 2011 on a seasonally adjusted basis, up slightly from 10.1 months in August. 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.
The dollar value of all home sales in September 2011 was $45.3 million, down eight per cent on a year-over-year basis. The total value of all properties sold in September 2011 was $57.1 million, down five per cent from a year earlier.
The REALTORS® Association of Grey Bruce Owen Sound represents approximately 360 REALTORS® registered with its member offices. The geographical area served by theAssociation is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.
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