Grey Bruce MLS® Home Sales Surge in 2024

OnePoint Association of REALTORS® – Grey Bruce and Owen Sound MLS® home sales surge in 2024.
The number of homes sold in Grey Bruce and Owen Sound via the MLS® System of the OnePoint Association of REALTORS® totaled 116 units in December 2024. This was a jump of 81.3% from December 2023. Home sales were 13.7% above the five-year average and 4.6% below the 10-year average for the month of December. On an annual basis, home sales totaled 2,478 units over the course of 2024. This was a substantial gain of 41.1% from 2023.
“Sales activity marked a rapid and significant recovery throughout 2024, boosting annual totals well above where they stood in the previous two years and nearly getting back on par with 2021,” said Bonnie Looby, President of the OnePoint Association of REALTORS®. “An exceptional increase in activity was spurred by a resurgence in new listings, with motivated sellers responding in force to renewed optimism from buyers who were gradually easing back into the market. Although the local market is at present close to buyer’s territory with above-average levels of supply, momentum is moving in the right direction and we are looking ahead to a more active spring market.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $569,200 in December 2024, a modest gain of 2.9% compared to December 2023.
The benchmark price for single-family homes was $577,500, up modestly by 3% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $478,500, essentially unchanged, down just 0.7% compared to a year earlier, while the benchmark apartment price was $370,300, a small gain of 1.6% from year-ago levels.
The average price of homes sold in December 2024 was $632,284, a decline of 5.7% from December 2023. The more comprehensive annual average price was $652,448, nearly unchanged, up only 0.9% from all of 2023. The dollar value of all home sales in December 2024 was $73.3 million, a substantial increase of 71% from the same month in 2023.
The number of new listings saw a jump of 75.2% from December 2023. There were 177 new residential listings in December 2024. This was the largest number of new listings added in the month of December in more than a decade. New listings were 62.4% above the five-year average and 52.1% above the 10-year average for the month of December.
Active residential listings numbered 1,055 units on the market at the end of December, a substantial gain of 49.2% from the end of December 2023. Active listings haven’t been this high in the month of December in more than five years. Active listings were 84.6% above the five-year average and 58.4% above the 10-year average for the month of December.
Months of inventory numbered 9.1 at the end of December 2024, down from the 11 months recorded at the end of December 2023 and above the long-run average of 5.9 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
* Statistics in this report are subject to revision due to a recent migration to a new MLS® system.
Board & Association Information
OnePoint Association of REALTORS® serves as a unified body representing almost 3,000 real estate professionals across the regions of Huron, Perth, Grey, Bruce, Wellington, Georgian Bay, Simcoe, Parry Sound, Haliburton and Muskoka.
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Contact me for a complimentary, no-obligation property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Bank of Canada Reduces Policy Rate to 3%

The Bank of Canada (BoC) has made a significant move in its monetary policy, reducing its key interest rate and announcing the end of quantitative tightening. This decision, announced on January 29, 2025, has important implications for the Canadian economy and individual Canadians. Let’s break down the key points and their potential impact.
The Rate Cut
The BoC has reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%. This 25 basis point cut is a clear signal that the central bank is taking action to support economic growth.
End of Quantitative Tightening
In addition to the rate cut, the BoC is ending its quantitative tightening program. They plan to restart asset purchases in early March, allowing their balance sheet to stabilize and then grow modestly in line with economic growth. This move is aimed at providing further support to the economy by increasing liquidity in the financial system.
Economic Outlook
The Bank of Canada’s decision is based on several key economic factors:
- Past interest rate cuts have started to boost the Canadian economy, with recent strengthening in both consumption and housing activity expected to continue. However, business investment remains weak.
- GDP growth is forecast to strengthen in 2025. The Bank projects GDP will grow by 1.8% in both 2025 and 2026, which is somewhat higher than potential growth. This is despite slower population growth due to reduced immigration targets.
- Inflation remains close to the 2% target, with some volatility. The Bank expects CPI inflation to stay around the 2% target over the next two years.
Potential Impacts
For Canadians, this rate cut could have several implications:
- Lower borrowing costs: Mortgages, lines of credit, and other loans may become more affordable.
- Increased economic activity: Lower interest rates are expected to boost household spending and gradually strengthen the economy.
- Currency effects: The Canadian dollar has already depreciated against the US dollar, largely due to trade uncertainty and broader strength in the US currency. This trend may continue, affecting import prices and travel costs.
Risks and Uncertainties
While the BoC’s move is generally positive for economic growth, there are some risks to consider:
- The Bank notes that projections are subject to more-than-usual uncertainty due to the rapidly evolving policy landscape, particularly the threat of trade tariffs by the new administration in the United States.
- A protracted trade conflict could lead to weaker GDP and higher prices in Canada. If broad-based and significant tariffs were imposed, it would test the resilience of Canada’s economy.
What’s Next?
The Bank of Canada’s next rate announcement is scheduled for March 12, 2025. Follow my page for more real estate news and information!
Final Thoughts on the Bank of Canada’s Decision
The Bank of Canada’s decision to cut rates and end quantitative tightening reflects its commitment to supporting economic growth while maintaining price stability. The Bank will continue to closely monitor developments and assess their implications for economic activity, inflation, and monetary policy in Canada. For Canadians, this may present opportunities in terms of borrowing and investment, but it’s also a reminder to stay informed about economic developments and how they might affect personal financial decisions.
Read the Press Release.
Whether you’re a homeowner, prospective buyer, or real estate investor, understanding these market changes is crucial. As your trusted REALTOR®, I’m here to help you navigate these shifts and make informed decisions! Call, text, email, or DM me to chat about how this announcement affects your real estate plans!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
December 2024 Real Estate Market Update

Board & Association Information
OnePoint Association of REALTORS® serves as a unified body representing almost 3,000 real estate professionals across the regions of Huron, Perth, Grey, Bruce, Wellington, Georgian Bay, Simcoe, Parry Sound, Haliburton and Muskoka.
Related: November 2024 Real Estate Market Update
*IMPORTANT: Due to the transition, December data is not 100% accurate as some members had to relist their listings in PropTx which could appear as ‘new’.
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Contact me for a complimentary, no-obligation property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca