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Let’s take a look at the Grey County Residential Real Estate Market Update for June 2023.
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Grey County Market Update
In June, 3 out of the 5 key areas had an increase in the number of new listings, as well as an increase in listing numbers over this time last year. 4 of the 5 areas had more sales this month, and the same for June 2022. The listing-to-sales ratio remains heavily in favour of listings, with 70/30 in all 5 areas. The average sale price shows improvement, with 3 of the 5 areas increasing and just slightly down for 2 of the 5.
There were 142 sales in June, down 3% from May, and up 17% from June of last year.
The average sale price for Grey County, is down 3% from May, however there is an increase of 17% year over year from June 2022.
New listings across Grey County continue to climb ever so slightly for the past 6 months, with 367 for the month of June, which is an increase of 9% over May.
In Grey County, the average home took 38 days to sell, 4 fewer than last month, and still higher than in June 2022, where it took 24 days to sell.
The listing-to-sales ratio continues to trend in favour of listings this month and was 70/30, the same as last month and the month before that.
‘Months of Inventory’ on hand across the county are at 5 this month, just above 4 this time last year.
Our Local Communities Market Stats
The number of homes listed in the Municipality of Grey Highlands rose 16% in June from last month. Year over year shows down of 3% from June 2022. June saw a 100% increase of 9 more homes sold than in May as well as June of 2022. The listing-to-sales ratio for the Municipality of Grey Highlands was still leaning in favor of listings with 60/40 in June, compared to 70/30 in May. The months of Inventory for Grey Highlands are lower again this month with 4, down from 5 in May as well as down from 6 in June of 2022. The average sale price for a home in the Municipality of Grey Highlands decreased by 19% in June, from $814,000 to $656,000.
30 residential properties were listed in West Grey in June, 23% fewer than in the month before. 38 homes were listed in June 2022. West Grey is still showing strong for sales, with June’s number of 22 homes sold, an increase of 15% from last month. Again, a year-over-year increase of 70% from June 2022. The listing-to-sales ratio in West Grey was 60/40 for May. In West Grey, there were 4 months of inventory on hand in June, down from last month’s 5 on hand. There were 6 months of inventory available for sale in the same month last year. In June, West Grey’s average home sale price was higher by 7%, from $669,000 to $717,000.
In the Municipality of Chatsworth, 19 new residential listings were added to the market in June, down from 21 in May. Similar numbers to the same month in 2022 with 17 new listings. Ten homes were sold this month, a slight decrease of 9% from 11 homes sold last month and year over year in June of 2022. The listing-to-sales ratio in the Municipality of Chatsworth remained relatively the same at 65/35 in June, just up from 60/40 in May. ‘Months of Inventory’ on hand in the Municipality of Chatsworth are staying roughly around the same with 5 on hand in June, up from 4 on hand in May. Showing an increase from June 2022, with 4 months of inventory on hand. The average sale price in the Municipality of Chatsworth dropped by 20% this month from last month May, of $749,000 to $595,000.
The number of new listings grew by 23% in June, with 37 residential properties added in the Municipality of Meaford, compared with 30 in May. 28 homes were added to the market in June 2022. The Municipality of Meaford had 16 home sales this month, another increase of 23% from May and a 14% increase from June 2022. The listing-to-sales ratio in the Municipality of Meaford is reporting the same as the last two months at 70-30 in favor of listings over sales. Months of inventory available continues to be 6 on hand in the Municipality of Meaford, same as in May, however an increase of 2 more on hand than in June of 2022. The average sale price for a home in the Municipality of Meaford continues to increase with a jump from $860,000 to $1,08 million, up 26% from May.
Town of the Blue Mountains
In The Municipality of the Town of the Blue Mountains, 77 homes were added to the market in June, a slight dip from 85 in May. 42 properties were listed in June 2022, about half as many. Home sales increased by 3% in June, growing from 29 in May to 30 this month. Compared with the same month last year, 30% more residential properties were sold in June 2023 than in 2022. The listing-to-sale ratio in the Municipality of the Town of the Blue Mountains still trend more to the listings side in June, to 70/30 from 75/25 in May. Months of inventory in the Town of the Blue Mountains climbed from 5 in May to 6 this month. June 2022 had 4 months of inventory available for sale. The average home sale price in the municipality saw another small 14% increase this month, growing from $967,000 in May to $1.10 million this month.