So what is going on in Owen Sound Real Estate? Let’s delve into the numbers and see what you think! Keep in mind that all of these numbers quoted are specifically for Owen Sound homes for sale and sold, and apply only to January 2018 and how it compares to January 2017.
The first indicator that we are seeing is the total number of Owen Sound Homes that were listed at a whooping 16. That is 16 new listings coming to market in the month of January.....just under half of the 33 Owen Sound Homes that were brought to market last year. Now being in the middle of winter, and with the holiday season just ending, we do expect lower numbers in this time of year, which leads us to our second indicator.
Sales. Continuing the trend of 2017, the market saw 20 Owen Sound residential homes sell, outpacing the new listings, and slowly chewing away at our available inventory of property. Again being a slow a month, but still an incredible increase when taking into account the 11 homes that sold in January 2017.
Our next market indicator is the price. With the average price of Owen Sound Homes rounding out at $244,183 (2016 - $213,307 Up 14.47%!) our average price in January came in at $227,195, which also came in slightly lower than average in 2016 - $231,036 (1.66% drop). This number is a bit of a surprise to me overall, as we are watching the inventory tighten month over month. Not only are we watching it tighten but we are seeing the time on market for each property dropping as well 2017 - 92 days, 2018 - 77 days, a 16.3% reduction in time overall!
Speaking of inventory, we are lower than ever….again. With our 2017 inventory showing 101 Owen Sound homes for sale at the end of January, our 2018 number is showing 72 homes (28.71%).
So what does this all mean to me? Times are good in Owen Sound. We have the trend so far indicating a continuation of the 2017 sellers market, and from first hand experience I can tell you I honestly believe that there is an excitement building for our town again. I see more business opening in our core, and rumours of new development are everywhere. Now if you know me, you know I had a shameless plug, but if you are thinking about selling, now is a good time to start considering your options and bring your home on market while we only have 72 homes left available…
Chat soon
-Brandon
The first indicator that we are seeing is the total number of Owen Sound Homes that were listed at a whooping 16. That is 16 new listings coming to market in the month of January.....just under half of the 33 Owen Sound Homes that were brought to market last year. Now being in the middle of winter, and with the holiday season just ending, we do expect lower numbers in this time of year, which leads us to our second indicator.
Sales. Continuing the trend of 2017, the market saw 20 Owen Sound residential homes sell, outpacing the new listings, and slowly chewing away at our available inventory of property. Again being a slow a month, but still an incredible increase when taking into account the 11 homes that sold in January 2017.
Our next market indicator is the price. With the average price of Owen Sound Homes rounding out at $244,183 (2016 - $213,307 Up 14.47%!) our average price in January came in at $227,195, which also came in slightly lower than average in 2016 - $231,036 (1.66% drop). This number is a bit of a surprise to me overall, as we are watching the inventory tighten month over month. Not only are we watching it tighten but we are seeing the time on market for each property dropping as well 2017 - 92 days, 2018 - 77 days, a 16.3% reduction in time overall!
Speaking of inventory, we are lower than ever….again. With our 2017 inventory showing 101 Owen Sound homes for sale at the end of January, our 2018 number is showing 72 homes (28.71%).
So what does this all mean to me? Times are good in Owen Sound. We have the trend so far indicating a continuation of the 2017 sellers market, and from first hand experience I can tell you I honestly believe that there is an excitement building for our town again. I see more business opening in our core, and rumours of new development are everywhere. Now if you know me, you know I had a shameless plug, but if you are thinking about selling, now is a good time to start considering your options and bring your home on market while we only have 72 homes left available…
Chat soon
-Brandon