OnePoint Association of REALTORS® - Grey Bruce and Owen Sound

The number of homes sold in Grey Bruce and Owen Sound via the MLS® System of the OnePoint Association of REALTORS® totaled 116 units in December 2024. This was a jump of 81.3% from December 2023.

Home sales were 13.7% above the five-year average and 4.6% below the 10-year average for the month of December.

On an annual basis, home sales totaled 2,478 units over the course of 2024. This was a substantial gain of 41.1% from 2023.

“Sales activity marked a rapid and significant recovery throughout 2024, boosting annual totals well above where they stood in the previous two years and nearly getting back on par with 2021,” said Bonnie Looby, President of the OnePoint Association of REALTORS®. “An exceptional increase in activity was spurred by a resurgence in new listings, with motivated sellers responding in force to renewed optimism from buyers who were gradually easing back into the market. Although the local market is at present close to buyer’s territory with above-average levels of supply, momentum is moving in the right direction and we are looking ahead to a more active spring market.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $569,200 in December 2024, a modest gain of 2.9% compared to December 2023.

The benchmark price for single-family homes was $577,500, up modestly by 3% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $478,500, essentially unchanged, down just 0.7% compared to a year earlier, while the benchmark apartment price was $370,300, a small gain of 1.6% from year-ago levels.

The average price of homes sold in December 2024 was $632,284, a decline of 5.7% from December 2023.

The more comprehensive annual average price was $652,448, nearly unchanged, up only 0.9% from all of 2023.

The dollar value of all home sales in December 2024 was $73.3 million, a substantial increase of 71% from the same month in 2023.

The number of new listings saw a jump of 75.2% from December 2023. There were 177 new residential listings in December 2024. This was the largest number of new listings added in the month of December in more than a decade.

New listings were 62.4% above the five-year average and 52.1% above the 10-year average for the month of December.

Active residential listings numbered 1,055 units on the market at the end of December, a substantial gain of 49.2% from the end of December 2023. Active listings haven’t been this high in the month of December in more than five years.

Active listings were 84.6% above the five-year average and 58.4% above the 10-year average for the month of December.

Months of inventory numbered 9.1 at the end of December 2024, down from the 11 months recorded at the end of December 2023 and above the long-run average of 5.9 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.

* Statistics in this report are subject to revision due to a recent migration to a new MLS® system.