June 2024 Real Estate Market Update

REALTORS® Association of Grey Bruce Owen Sound MLS® home sales remain subdued in June.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 242 units in June 2024. This was a substantial decline of 18% from June 2023.
Home sales were 22.6% below the five-year average and 27.2% below the 10-year average for the month of June.
On a year-to-date basis, home sales totaled 1,221 units over the first six months of the year. This was a decline of 7.6% from the same period in 2023.
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 $577,300 in June 2024, essentially unchanged, up just 0.9% compared to June 2023.
The benchmark price for single-family homes was $586,600, a small gain of 1% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $469,500, edging up 0.8% compared to a year earlier, while the benchmark apartment price was $367,700, a modest decline of 3.2% from year-ago levels.
The average price of homes sold in June 2024 was $646,378, down by 4.2% from June 2023.
The more comprehensive year-to-date average price was $647,394, a minor increase of 1% from the first six months of 2023.
The dollar value of all home sales in June 2024 was $156.4 million, a big reduction of 21.4% from the same month in 2023.
The number of new listings decreased by 6.4% from June 2023. There were 556 new residential listings in June 2024.
New listings were 0.1% above the five-year average and 0.7% above the 10-year average for the month of June.
Active residential listings numbered 1,595 units on the market at the end of June, an advance of 31% from the end of June 2023. Active listings haven’t been this high in the month of June in more than five years.
Active listings were 52.6% above the five-year average and 21.9% above the 10-year average for the month of June.
Months of inventory numbered 6.6 at the end of June 2024, up from the 4.1 months recorded at the end of June 2023 and above the long-run average of 4.1 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.

(1) Sales / new listings * 100; compared to levels from previous periods. (2) Active listings at month end / monthly sales; compared to levels from previous periods. (3) Sale price / list price * 100; average for all homes sold in the current month.
Board & Association Information
The REALTORS® Association of Grey Bruce Owen Sound represents approximately 450 REALTORS® registered with its member offices. The geographical area served by the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.
Related: May 2024 Real Estate Market Update
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! Call today for a complimentary property valuation.
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Instant Home Improvement: Budget-Friendly Tips for a Fresh Look

Are you looking to enhance the appeal of your home without breaking the bank? Whether you’re preparing to sell or just want to give your living space a fresh look, there are several easy and inexpensive updates you can make that will have a big impact. In this blog post, we’ll explore some of the best home improvement tips to instantly elevate your home’s aesthetics and functionality.
Refresh Your Walls with Paint
A fresh coat of paint can do wonders for any room. Consider light, neutral colours to make spaces feel larger and more inviting. If you’re feeling bold, an accent wall can add a pop of colour and create a focal point. Paint is one of the most cost-effective ways to transform your home.
Tips:
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- Use high-quality paint for better coverage and durability.
- Prep walls properly by cleaning and repairing any holes or cracks.
Update Hardware and Fixtures
Replacing old hardware on cabinets, drawers, and doors is a quick and affordable way to update your home. Modern handles, knobs, and pulls can give your kitchen and bathrooms a contemporary feel.
Tips:
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- Choose finishes that complement your existing decor, such as brushed nickel, matte black, or brass.
- Don’t forget to update light fixtures, faucets, and showerheads for a cohesive look.
- Screwless wall plates are easy to install and provide a sleek, uncluttered appearance.
Install New Lighting
Good lighting can dramatically change the ambiance of a room. Swap out outdated fixtures for modern designs that provide better illumination. Consider adding dimmer switches to create mood lighting and save on energy costs.
Tips:
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- Use LED bulbs for energy efficiency and longer lifespan.
- Layer your lighting with a mix of overhead, task, and accent lights.
- Add under-cabinet lighting in the kitchen for improved functionality and aesthetics.
Enhance Curb Appeal
First impressions matter, and your home’s exterior is the first thing guests and potential buyers see. Simple updates like painting the front door, adding potted plants, or updating house numbers can make a big difference.
Tips:
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- Keep the lawn well-maintained and trim bushes and trees.
- Power wash the driveway, walkways, and siding to remove dirt and grime.
- Consider adding a new welcome mat and outdoor lighting for added appeal.
Refresh Flooring
Worn-out carpets and outdated flooring can detract from your home’s appeal. Consider more affordable options like vinyl plank flooring, which is easy to install and mimics the look of hardwood. Area rugs can also add warmth and style to any room.
Tips:
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- Consider peel-and-stick vinyl tiles or planks for a quick and easy update. They are budget-friendly and come in various styles.
- Use rugs to define spaces and add colour and texture.
- If replacing carpets isn’t an option, consider a professional carpet cleaning service to revitalize your existing carpets.
Upgrade Window Treatments
Old or mismatched window treatments can make a space feel dated. Swap them out for new curtains, blinds, or shades to instantly update the look of your rooms.
Tips:
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- Choose treatments that allow for natural light while providing privacy.
- Consider energy-efficient options like thermal curtains or cellular shades.
- Select window treatments that are easy to clean and maintain, like machine-washable curtains or dust-resistant blinds.
Declutter and Organize
A clutter-free home looks more spacious and inviting. Take the time to declutter and organize your belongings. Invest in storage solutions like shelves, baskets, and bins to keep everything tidy.
Tips:
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- Focus on one room at a time to avoid feeling overwhelmed.
- Donate or sell items you no longer need or use.
- Use labels and clear containers for easy access and organization.
Final Thoughts: Boost Your Home’s Appeal with Simple Changes
Improving your home doesn’t have to be expensive or time-consuming. With these easy and affordable updates, you can instantly enhance your home’s appearance and functionality. Whether you’re aiming to impress potential buyers or just want to enjoy a more beautiful living space, these tips will help you achieve your goals. Start today and see the difference small changes can make!
For more home improvement tips and real estate advice, be sure to subscribe to my blog and follow me on social media. Happy updating!
Related: Elevate Your Home’s Appeal: Staging Tips for Every Room
Looking to buy, sell, or invest? Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca