Wiarton Willie has promised us an early Spring! Whether or not he’s right, the extra hours of daylight this month have been very welcome.

Let’s take a look at the residential February 2022 Grey County Real Estate Market Update.

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Grey County Market Update

In January, the Grey County real estate market showed signs of renewed activity after the quiet of December. Though the specific numbers for each area varied, throughout the 5 municipalities we follow across Grey County, there was one consistent trend. In each area, roughly two homes sold for every property listed in January.

Home Sales in October

The number of sales increased by 19% this month over January. There were 142 home sales in February 2022, equal to the same last year.  

Average Home Sale Price in October

Across Grey County, the average sale price of a home was down marginally from January’s level, but remains at just over one million dollars in February. This represents a 43% hike over 2021 prices.

New Listings in October

In Grey County as a whole, new listings were up by just 2% in February compared with last month. 18% fewer homes were added to the market this month than in February 2021.

Days on Market in October

The average home in Grey County took 34 days to sell in February, 5 days more quickly than a month ago, but 12 days longer than at this time last year.

Our Local Communities Market Stats

Grey Highlands

In the Municipality of Grey Highlands, 6 new residential properties were added to the market in February, a 20% increase over January, and the same number as in February 2021. 11 homes sold this month in Grey Highlands, equal to January’s number. In February of 2021, there were 16 sales, a difference of 31% year over year.  February’s sales to listing ratio was unchanged from January, with two homes sold for each one listed.  The average sale price in Grey Highlands in February was $970,000, a 13% increase this month over last.

Home Sales in October
Average Home Sale Price in October
New Listings in October

West Grey

West Grey added 10 new listings t the market in February, up 43% from January and a 67% increase over 2021.  The number of property sales was the same this month as in January, 14. Compared with the same month in 2021, sales have increased by 17%.  West Grey had a 60-40 sales to listing ratio in February.  An increase of 13% this month brought the average home sale price in West Grey to $875,000, up $100,000.

 

Home Sales in October
Average Home Sale Price in October
New Listings in October

Chatsworth

The Municipality of Chatsworth saw an increase of 25% in the number of homes listed in February. The same number of properties were listed in February 2021.  11 residential properties sold this month, a 37% improvement over January, and a 120% jump in the number sold a year ago.  Just like last month, there were 2 sales for every property listed in the Municipality of Chatsworth in February.  The average sale price of a home in the Municipality of Chatsworth rose 14%, nearly $120,000 this month, to $945,000.

 

Home Sales in October
Average Home Sale Price in October
New Listings in October

Meaford

In February, there were 11 new residential listings in the Municipality of Meaford, nearly three times as many as in January, and almost double the number of listings added in the same month last year.  Residential sales numbers increased by 62% this month over January but were down by 24% from February 2021.  The listing to sales ratio for the Municipality of Meaford was a more balanced 45-55 in February.  There was a modest, 2%, rise in the average home sale price in the Municipality of Meaford this month, taking it to $886,000.

 

Home Sales in October
Average Home Sale Price in October
New Listings in October

Town of the Blue Mountains

Again in February, The Municipality of the Town of the Blue Mountains had the greatest number of listings and sales of all five of the areas we follow, and more than twice the number of transactions than in any other individual part of Grey County.  19 new residential listings were added to the market this month, up 19% compared to January and up 11% from February 2021.  The number of home sales grew by 17% in the Town of the Blue Mountains in February, with 41 homes sold. This is an 11% increase over the same time last year.  In February, sales outnumbered listings a little more than 2-1 in the Municipality of the Town of the Blue Mountains, about the same ratio as in January.  The average sale price for a home in The Town of The Blue Mountains dipped to just below 1.7 million dollars this month, slightly less than January’s average price.

Home Sales in October
Average Home Sale Price in October
New Listings in October

You can find a more detailed market update for the last 3 months and our annual report here:

January 2022

December 2021

November 2021

2021 Annual Report