Spring is trying to bloom in Grey County, but old man winter doesn’t seem to want to let go quite yet.
Let’s take a look at the Grey County Residential Real Estate Market Update for April 2023.
You can contact us through any of our social media platforms for more information. Check out our 3D Virtual Tours and extensive photo galleries to view our properties safely and successfully. Click here to check out all of our Featured Listings.
Grey County Market Update
Currently, across Grey County, there are 268 new listings for the month of April which is an increase of 18% over March. The listings-to-sales ratio continues to trend more heavily in favour of listings and was 70:30 this month. There were 124 sales in April, the same as in March. The average number of days on the market continues to drop and was 7 days shorter than last month.
Grey County home sales stayed the same as last month, however they were 3% higher than in April 2022.
The average sale price for a Grey County home rose 15% in April compared to March, but was 18% lower than in April 2022.
The number of new listings increased in April over March, but still decreased 6% compared to 2022.
In Grey County, the average home took 46 days to sell, 7 fewer than last month, but 3 times as long as in April 2022.
Listing to sales ratio continues to trend more heavily in favor of listing and was 70/30 this month.
Months of Inventory’ on hand across the county remained at 4, the same as in March. Just 2 months of inventory were available for sale at this time last year.
Our Local Communities Market Stats
Grey Highlands
16 residential properties were listed in the Municipality of Grey Highlands in April, up from 9 in March, and the same as April of 2022, a difference of 78% month to month and no change year to year. The number of homes sold in April was the same as in March with 10, and not far off April 2022’s 11 sales. The listing-to-sales ratio for the Municipality of Grey Highlands swung from a balanced 50:50 in March to 60:40 in April. Months of Inventory rose from 4 in March to 5 in April. The Municipality of Grey Highlands had 3 months of inventory on hand in April of 2022. The average sale price for a home in the Municipality of Grey Highlands grew by 8% in April, to $905,000
West Grey
22 new listings were added to the market in West Grey in April, close to last month’s number but twice as high with a 120% increase from last year’s 10 listings in April 2022. West Grey is strong for sales, with April’s number almost doubling to 23 from 14 in March, a 64% increase on top of an increase from the previous month of February. Plus a year-over-year increase of 44% from April 2022. The listing-to-sales ratio in West Grey was 50:50 in April. In West Grey, there were 3 months of inventory on hand in April, down from 5 last month. There were 2 months of inventory available for sale in the same month last year. West Grey’s average home sale price was just 1% lower in April, from $723,000 to $719,000.
Chatsworth
The Municipality of Chatsworth had 6 homes added to the market in April, down 25% from March and just down slightly from February, and the same month last year 6 new residential properties were listed. There were 6 homes sold in April, which is a 25% decrease from last month and a 50% decrease from last year in April 2022. The listing-to-sales ratio in the Municipality of Chatsworth is still holding steady at 50:50 in April. ‘Months of Inventory’ on hand in the Municipality of Chatsworth have started to climb back up with 7, up from 4 last month and just shy of February’s 9 on hand. In April of 2022, there was 1 month of inventory available. The average sale price increased by 11% in April, to $737,000 in March and just under February’s number of $910,000.
Meaford
The Municipality of Meaford continues to climb 40% with 28 listings in April, 8 more than in March. The Municipality of Meaford had 13 home sales this month, that’s 30% up from last month’s 10 sold, and 35% lower than April of last year. The listing-to-sales ratio in the Municipality of Meaford is relatively the same with 70:30 for April, a slight increase from March and February. The months of inventory on hand in the Municipality of Meaford remain closely the same, with just 1 more this month than in March. In April 2022, the municipality had 2 months of inventory on hand. The average sale price for a home in the Municipality of Meaford was only 1% lower in April from March, which is only a $9,000 difference but again still down from February’s $774,000 average sale price.
Town of the Blue Mountains
The Municipality of the Town of the Blue Mountains saw 55 new residential listings in April, trending up from March, and up slightly from April 2022’s number of 53. There were fewer home sales in April, down 21% from March and still down 37% from last year in April 2022. The listing-to-sale ratio in the Municipality of the Town of the Blue Mountains was 70:30 for the month of April. Moving up to 6 months of inventory on hand in the Town of the Blue Mountains this month, only 1 more than March, and still higher than April 2022 with just 2. The Town of the Blue Mountains has made a turn with a significant increase to the average home sale price this month, jumping up 46% to $1.23 million from $846,000, back in line with February this year.
