Home sales edge back in December
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound came in below year-ago levels in December 2011.
Home sales numbered 94 units in December 2011, down 12 per cent from December 2010. Sales of all property types numbered 124 units in December. This was a decrease of 13 per cent from levels in December 2010.
Some 2,035 homes traded hands in 2011. This was a decline of seven per cent from 2010, and stood roughly on par with annual sales in 2008 and 2009.
The average price of homes sold in December 2011 was $225,919. This was an increase of one per cent from a year earlier.
New residential listings on the Association's MLS® System numbered 182 units in December 2011, an increase of 35 per cent on a year-over-year basis.
The overall supply of homes for sale on the market remains elevated. Active residential listings totalled 1,264 units at the end of December, rising 14 per cent from the same month in 2010.
The number of months of inventory stood at 10.3 at the end of December 2011 on a seasonally adjusted basis, up from 8.9 months at the end of November. 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 December 2011 was $21.2 million, down 11 per cent on a year-over-year basis. The total value of all properties sold in December 2011 was $27.4 million, down 17 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 the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County. |
