October brings to mind happy kids jumping in leaf piles, cozy sweaters and warming up with hot drinks. The days get shorter and the chill in the air signals that it’s time to get the deck furniture put away and the gardens cleaned up before the snow comes.
Let’s take a look at the residential Real Estate Statistics for Grey County this month.
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Grey County Market Update
There were 174 homes sold in Grey County in October, a 2% decrease over September, and a 25% decrease over October of 2020.
The average home sale price in October was $854,946, down 0.3% from September’s $857,497. This is a 21% increase, over this time last year, when the average Sale Price was $704,577.
October brought 196 new listings to the market in Grey County, a decrease of 15% over last month, and 5% lower than last year’s 206.
Homes in Grey County spent an average of 32 days on the market in October, which was 4 days more than September. This is 15 days less than what it took to sell in October of 2020.
Our Local Communities Market Stats
The Municipality of Grey Highlands added 12 new residential listings in October, up from 10 in September, but a 20% drop from October 2020. Residential sales in Grey Highlands fell by 23% compared with September, and by 19% from October 2020’s level. The listing to sales ratio was 60/40 in favour of sales this month, a slight adjustment from September, when sales outnumbered listings more than 2-1. The average home sale price in Grey Highlands grew by 13%, up $120,000 over September, and now sits at just over one million dollars. Nearly half of the homes sold in Grey Highlands in October were in the 1 million dollar plus range.
In October, the number of new listings in West Grey fell by 47% from September’s number, and by 58% compared to October 2020. 15 residential properties were sold in West Grey this month, 17% fewer than in September, and a decrease of 46% from last October’s 28 sales. 25% of West Grey’s October sales were in the $600-$700,000 price range, with the average sale being $676,450. This is an increase of $35,000 or 5% over September. There were two sales for every listing in West Grey in October, as opposed to a more balanced ratio in September.
The Municipality of Chatsworth saw October’s new listing number fall by 30% compared to September’s, and by 13% year over year. The number of sales were unchanged again this month, at 12. There were 8% fewer sales than in October 2020. The average sale price of a home in the Municipality of Chatsworth was down in October, to $858,000 from $968,000 in September. One third of sales were in the $1 million plus range and another third fell between $800,000 and 1 million dollars. Sales outnumbered listings at a ratio of 65/35 in October, a heavier weighting than September’s more balanced result.
In the Municipality of Meaford, the number of new residential listings fell by 46% in October, and by 13% over this time last year. Residential sales dropped 21% this month compared with September. Looking at October 2020, there were 44% fewer homes sold this year than last. The sales to listing ratio in Meaford was 60/40 for October, a few more sales than listings this month. Home sale prices in the Municipality of Meaford were divided fairly evenly between every price range from $400,000 to one million dollars plus in October. The average sale price declined this month by 14% to $816,000.
Town of the Blue Mountains
The Municipality of the Town of the Blue Mountains saw the number of listings increase by 20% in October, and by 7% over 2020. The number of sales improved similarly, 23%, this month, but were 49% lower than in October 2020. The listing to sales ratio was unchanged from both September and August, 55-45 in favour of sales. The average sale price for the Town of The Blue Mountains came in at $1.175 million dollars for October, a decrease of $125,000 from September. 65% of the area’s sales were in the one million dollar plus range, a few more than last month.
You can find a more detailed market update for the last 3 months and our annual report here:
2020 Annual Report
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