Monday, November 16, 2009

Record Real Estate Month

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Grey Bruce
by Kevin Bernard    

A real estate BOOM is underway in Grey Bruce.

Local real estate association President Neil Devlin says October was a record month with 222 properties sold.

That total is up 85 per cent from a year ago and Devlin says it brings the number of sales in the first 10 months of the year, almost equal to the level in 2008.

The average price for a home in the Grey Bruce and Owen Sound areas was 215 thousand dollars in October.

Compared with October of 2008, the average price is up by 13 per cent and is a record for the area.

The total value of all properties sold in the area was just under 48 million dollars in October, which was more than double the level a year ago.

Devlin says the real estate boom is mainly because of continued low interest rates for mortgages, and improved consumer confidence.

He says the boom is not limited to our area, but is pretty well Canada wide this fall.