In the month of July homes sales in Grey and Bruce were up 8.6% from July 2018. While this is not a record it is an improvement from last month when we were down 17% 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% 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 numbered 3.7 at the end of July 2019, up slightly from the 3.5 months 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.
SIGN UP AND RECEIVE THE MARKET REPORT EVERY MONTH – SENT STRAIGHT TO YOU!