Have you ever noticed that, when it comes to real estate, there’s news, and then there’s news you can actually use?
For example, most major newspapers, both print and online, publish updates on the real estate market — but only nationally and regionally. They don’t tell you what’s going on in your specific neighbourhood because, by necessity, they can only cover a broad area.
But news that’s broad and general has limited value to you. The real estate information that’s most useful, especially if you’re thinking of selling, is local. It’s specific to your neighbourhood – maybe even to your street.
That’s where we can help.
The information in this monthly report will help get you in tune with the trends in the real estate market for 5 municipalities in Grey County; Grey Highlands, Chatsworth, Meaford, West Grey, The Blue Mountains.
You can contact us through any of our social media platforms for more information. You can also view our 3D Virtual Tours and extensive Photo Galleries, which allows us to help you buy or sell a property safely and successfully. You can view all of our Featured Listings here.
Grey County Market Stats
Looking back, home sales in Grey County totalled 229 units in September, which is a 12% decrease from August, but a 49% increase compared to September of 2019.
Looking at the average home sale price, it is up about 33% when compared to Septemeber of last year, and has increased by 9% since last month.
There were 278 new listings in Grey County in September, which is an increase of 22% from last month, and a 17% increase on a year over year basis.
The number of days on market has stayed around the same as last month. Sitting at 50 days on the market in September compared to an average of 49 days in August, which is an 11% decrease in days on market.
Our Local Communities Market Stats
In the Municipality of Grey Highlands, there has been a 19% decrease in the number of properties listed since last month and a 31% decrease when compared to September of 2019. Property sales have increased 22% from last month and have seen a massive 107% increased from the same time last year, with the bulk of the sales being in the 3-5 hundred thousand range. Looking at some trends from the third quarter, we notice that while listings decreased over the months from July- September, sales have increased consistently. What this means is that the demand is strong and if available supply continues to decrease we are more likely to see an increase in home prices in the coming months
The number of new listings in the Municipality of West Grey is up with a 133% increase from last month, and has decreased 53% from September 2019. The number of properties that sold increased 100% from 12 in August to 24 in September, while a 41% increase was noted compared to the same period last year. The bulk of the sales were below the 3-4 hundred thousand range. After the third quarter of this year, West Grey has seen a consistent trend between new listings and houses being sold, with a small dip of both in August; we now see that things are on a rise again.
The Municipality of Chatsworth saw a 100% increase in the number of new listings from last month, but a 45% decrease compared to August of last year. The number of properties sold saw an increase of 22% compared to last month and saw no change when compared to September of 2019. Chatsworth saw an interesting range of sales per price point, with an equal number of sales in the 2-3, 5-7 and 8-9 hundred thousand dollar range. After the third quarter of this year, Chatsworth maintains a strong seller’s market. The number of new listings continues to decrease and after a brief dip in August, the number of sales are back up and selling in a short period of time.
In the Municipality of Meaford, there was a 42% increase in the number of new listings compared to last month and a 33% decrease from September 2019. We saw a 36% decrease in the number of sales compared to last month, but a 91% increase on a year-over-year basis. Similarly to Chatsworth, Meaford offered a range of sales per price point, with 4 properties sold in the 3-4, 4-5, 5-6 and 7-8 hundred thousand dollar range. Meaford has seen an interesting trend across the three months in the third quarter of this year. While most other municipalities have seen some fluctuation, Meaford has seen a steady decrease in the number of home sales across this quarter while having increased in the number of listings each month. If this trend continues it could have a balancing effect on the market.
The Blue Mountains
When looking at the Municipality of the Town of the Blue Mountains, there has been an increase of 66% in the number of new listings compared to August and a 16% decrease from September of 2019. The number of sales is back up with a 7% increase from August and saw an 81% increase compared to the same month last year, with the vast majority of sales being in the 1 million-plus range. In the Town of the Blue Mountains, the number of new listings has bounced from a high of 55 in July, down to 33 in August and back up to 55 in September. Sales spiked in July and then plateaued in August and September.
SIGN UP & RECEIVE THE MARKET REPORT EACH MONTH – SENT STRAIGHT TO YOU!