As the excitement and bustle of the holidays fade into a happy memory and Old Man Winter settles in for a long stay, the skiers and seasonal visitors return to enjoy Grey County’s winter playground.
Let’s take a look at the residential January 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.
The number of sales improved by a more modest 9% in January compared with December, and by 20% year over year.
Across Grey County, sale prices continue to rise, by 15% or nearly $130,000 in January, bringing the average sale price to just over one million dollars. Compared to January 2021, sale prices have increased by 42%, more than $300,000!
The number of listings across the county jumped by 73% this month, and by 33% over January 2021’s level.
That said, the average home in Grey County took a little longer to sell in January, 39 days. This is 9 days longer than in December, and 6 days longer than at this time last year.
Our Local Communities Market Stats
5 new residential properties were listed in January in the Municipality of Grey Highlands, up from 2 in December and the same number as in January 2021.
The number of home sales was down very slightly this month, from 12 to 11. 13 homes were sold in Grey Highlands in January 2021.
Roughly two properties were sold in January for every home listed in Grey Highlands.
The average home in Grey Highlands sold for $856,000 in January, a 16% drop from just over one million dollars in December.
West Grey saw 7 new listings added to the market in January, a 250% increase over December and a 17% improvement over 2021.
Property sales grew by 27%, to 14 in West Grey this month, and by 17% compared with last January.
Sales outnumbered listings 2-1 in West Grey for January.
West Grey’s average home sale price gained 25%, more than $150,000 in January, rising to nearly $775,000.
The Municipality of Chatsworth had double the number of homes listed in January than in December. Compared with January 2021, listings were up by one third. 8 residential properties sold this month, 60% more than in December, and four times the number sold in January 2021. As in many other parts of our area, there were 2 sales for every property listed in the Municipality of Chatsworth in January. The average sale price of a home in the Municipality of Chatsworth soared to almost $830,000 in January. Compared to December’s $563,000, this is a substantial, 47% jump. Note: an exceptionally high sale, at 4.2 million dollars, has been excluded from the calculation to more accurately represent a true average sale price for the area.
In the Municipality of Meaford, January brought 4 new listings to the residential market. This is a good improvement over 1 in December but is much lower than the 10 added in the same month last year. Residential sales fell by 33% in January compared with December but improved by 14% year over year. The number of homes sold in January outpaced new listings 2-1. The average sale price in the Municipality of Meaford held steady in January at just over $870,000, about the same as in December.
Town of the Blue Mountains
The Municipality of the Town of the Blue Mountains generally represents the greatest number of listings and sales of all five of the areas we follow. January was no different, with more than twice the number of transactions taking place here than in any other individual part of Grey County. There were 16 new residential properties come to market this month, 45% more than in December, but down 11% from January 2021. January saw just 1 more home sold than December, 35. Compared with 2021, this year’s sales were up by a solid 35%. There were 2 sales for every new listing this month. The average sale price for a home in The Town of The Blue Mountains continues to climb. Of the 35 home sales in January, 23 sold for over 1 million dollars and many for much more. This brought the average sale price to 1.7 million dollars in January. December’s average was just over 1.1million, a difference of nearly $600,000 month to month.
You can find a more detailed market update for the last 3 months and our annual report here:
2021 Annual Report
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