Home sales in the Southern Ontario market of Grey Bruce Owen Sound hit a new record high for the month of July.

There were 314 units sold by members of the Realtors Association of Grey Bruce Owen Sound last month and sales for the year-to-date were up 8.6% year-over-year to 1,878.

The average selling price of homes was $298,380, up 13.3% year-over-year while the number of new listings was up 0.7% to 415 units.

The number of months of inventory stood at 2.9 at the end of July, down from 5.5 months a year earlier and well below the long-term average for this time of year.

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