Key Findings: Ontario Real Estate Association (OREA) 2021 Home Buyers and Sellers Report

New research shows Ontario’s affordable homeownership crisis worsened by COVID-19 pandemic as buyers look for more space, bigger homes, but detached owners show reluctance to list.

OREA conducted an online survey with 1,421 Ontario residents aged 18+ between March 1 and March 6, 2021, through the Ipsos I-Say panel and compared it against the previous years’ survey conducted pre-pandemic, between January 27th and February 6th, 2020 with a sample of 1,420 Ontario residents.

Key Findings: Buyers and Sellers

  • Home buyers say they want more space with 63% interested in purchasing a detached home (63%), +3 points from last year, and more than a quarter of home buyers (28%) saying they plan to buy a home larger than 2,500 sq-ft (+8). 
  • Among upgraders, who typically have established equity and a larger budget, 75% (+9) say they are looking for a detached home. 
  • By contrast, those who say they plan to sell has decreased one point to 18%, and only 62% of sellers plan to sell a detached home (-4).
  • When asked about the pandemic’s impact, most buyers (68%) said the pandemic did not change where they plan to buy; indicating a more marginal shift in preferences as a result of the pandemic, as opposed to a revolution. 
  • Among those planning to buy, 37% (+1) still anticipate purchasing in a suburban area, with 24% looking in small cities and towns, and 19% (+3) looking in rural areas. 
  • Fewer buyers (one-in-five) say they intend to settle in urban/downtown areas, -4 points from last year. 
  • Of those looking at downtown homes, 15% of buyers said they have lost their appeal due to COVID; among Millennials, 2 in 10 say urban areas have lost their appeal. About the same number of homeowners (25%, +1) plan to sell a downtown property.


Key Findings: Use of a REALTOR®

  • 88% (+4) of sellers and 89% (+3) of buyers say they plan to use a REALTOR® to help them navigate today’s complex and fast-moving market – expert help when buying or selling property is becoming increasingly important. 
  • Use of a REALTOR® is even more prevalent among upgraders (95%), who likely know the value a REALTOR® brings, thanks to their previous experience working with one. 
  • Top reasons upgraders cite for using a REALTOR® include helping with paperwork (48%), saving them time (44%), helping navigate the process (38%), and because it simply gives them peace of mind (37%).

Source: OREA’s 2021 Home Buyers and Sellers Report

Southern Georgian Bay Association of REALTORS® MLS® home sales reach second best May on record

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 573 units in May 2021. This was up sharply by 80.8% from May 2020. Residential sales haven’t hit this level in the month of May in five years.

Home sales were 25.3% above the five-year average and 22.1% above the 10-year average for the month of May.

On a year-to-date basis, home sales totaled a record 2,434 units over the first five months of the year. This was a substantial increase of 81.2% from the same period in 2020.

The Southern Georgian Bay region comprises two distinctive markets.

Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 286 units in May 2021. This was up sharply by 97.2% from May 2020.

Home sales in the Western Region were 19.8% above the five-year average and 17.9% above the 10-year average for the month of May.

On a year-to-date basis, home sales in the Western Region numbered a record 1,258 units over the first five months of the year. This was a substantial increase of 98.7% from the same period in 2020.

Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, Severn, and Georgian Bay Townships, numbered 287 units in May 2021. This was up sharply by 66.9% from May 2020. Residential sales haven’t hit this level in the month of May in five years.

Home sales in the Eastern Region were 31.4% above the five-year average and 26.5% above the 10-year average for the month of May.

On a year-to-date basis, home sales in the Eastern Region numbered a record 1,176 units over the first five months of the year. This was a substantial increase of 65.6% from the same period in 2020.

“Home sales haven’t taken their foot off the gas since around June of last year, with this May posting the second highest level in history for the month,” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “There hasn’t been much relief on the supply side. New listings have come back stronger than before, but this has only managed to stop inventories from declining further, which have now more or less stabilized at record lows. Market conditions remain historically tight and prices continue their ascent to new highs.”

The number of new listings was up sharply by 36.6% from May 2020. There were 829 new residential listings in May 2021.

New listings were 3% below the five-year average and 13.5% below the 10-year average for the month of May.

Active residential listings numbered 658 units on the market at the end of May, a substantial decline of 51.8% from the end of May 2020. Active listings haven’t been this low in the month of May in three decades.

Active listings were 48.1% below the five-year average and 69.1% below the 10-year average for the month of May.

Months of inventory numbered 1.1 at the end of May 2021, down from the 4.3 months recorded at the end of May 2020 and below the long-run average of 4.8 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.

The dollar value of all home sales in May 2021 was $511.1 million, more than double the levels from a year earlier, surging 163.2% from the same month in 2020. This was also a new record for the month of May.

Consult your Local REALTOR® for market conditions and home value information specific to your neighbourhood. Our REALTORS® live, work and play in Southern Georgian Bay and have the local knowledge you simply need to know!  Encompassing several communities along the shores of southern Georgian Bay, approximately 1½ to 2 hours from Greater Toronto, the area is one of Canada’s premier four-season recreational playgrounds.

The Southern Georgian Bay Association of REALTORS® represents more than 600 REALTORS® registered with its member offices.  The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny and parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford and Grey Highlands.

Provided by:
Matthew Lidbetter, 2021 President
Southern Georgian Bay Association of REALTORS®
matthew@bluemountainproperty.ca

Local REALTORS® Provide Financial Aid to Local Charities

Collingwood, ON – As the pandemic continues to put pressure on the province’s already stretched shelter system, Local REALTORS® from the Southern Georgian Bay Association of REALTORS® (SGBAR) is supporting their local community by providing funding to assist with service continuity. This funding is part of the Ontario Real Estate Association’s (OREA) larger donation of $520,000 to Ontario shelters and food banks, which is on top of the $480,000 donation made one year ago. The funds will be distributed through the Ontario REALTORS Care® Foundation (ORCF) to nearly 100 shelters and food banks across Ontario.

SGBAR REALTOR® members contribute monthly to the Ontario REALTORS Care® Foundation, which acts on behalf of Ontario REALTORS® in funding shelter-related charities across the province. Shelter is defined as a refuge, haven, or protection that provides or improves quality of life from hunger, the elements, physical/psychological abuse, disabilities, and illness.

 SGBAR was granted a COVID Relief grant totaling $5,070, which was divided equally and distributed to our eligible 2021 recipients:

  • Home Horizon in Collingwood
  • Shelter Now in Midland
  • My Friend’s House in Collingwood

All charities receiving funding are listed on RealHeart.ca, a recently launched initiative with a mission to support Ontario REALTORS® in their work to build stronger communities across Ontario. In 2020 alone, the Foundation raised more than $1.1 million for shelter-based organizations. Today’s donation is part of OREA’s and ORCF’s longstanding commitment to helping families in need of emergency and permanent housing. 

 To donate to the Ontario REALTORS Care® Foundation today, visit www.realtorscareontario.ca.

 For more information, please contact:
Matthew Lidbetter, President Southern Georgian Bay Association of REALTORS®
matthew@bluemountainproperty.ca 

About SGBAR: The Southern Georgian Bay Association of REALTORS® represents more than 600 REALTORS® registered with its member offices.  The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, and parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains and portions of the Municipality of Meaford and Grey Highlands.

About the Ontario REALTORS Care® Foundation: The Ontario REALTORS Care® Foundation, formerly the Ontario Real Estate Association (OREA) Foundation was established in 1967. The Foundation supports shelter-based charitable organizations across Ontario, making a difference in the lives of people and communities where REALTORS® live and conduct business.

The Lakelands Association of REALTORS® and Southern Georgian Bay Association of REALTORS® Announce Merger

May 20, 2021, Huntsville and Collingwood, ON —The Lakelands Association of REALTORS® (The Lakelands) and Southern Georgian Bay Association of REALTORS® (SGBAR) are pleased to announce their merger, following an overwhelming membership vote in favour on Wednesday, May 19, 2021 at each association’s respective membership meeting. The merger is scheduled to be effective October 1, 2021.

“By merging our two associations to create a membership of over 1,400 REALTORS®, our new association will be in a strong position to represent the small community and recreational property perspective within organized real estate,” offered Chuck Murney, President of The Lakelands. “It will also increase our political clout with the provincial and federal governments since the boundary of our new territory is better aligned with our political boundaries. We are pleased that the Lakelands and SGBAR members saw the benefits of this merger and voted in favour of the motion.”

“Our members will enjoy the cost savings that come through the merger and benefit from reduced member fees to improved programs and services, made possible by having a larger membership base”, offered Matthew Lidbetter, President of SGBAR. “Our members have put our new association in a stronger position to add depth and strength to our many programs and services, many of which exist to enhance the professionalism of our REALTOR® members and better respond to the evolving conditions as the market shifts.”

The proposed name for the new association will be Trillium REALTORS® Association, pending approval from Ontario Real Estate Association (OREA) and Canadian Real Estate Association (CREA).

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For more information, please contact:
Kelly Warr, Interim Executive Officer, The Lakelands, 705-788-1504, ext. 229
Sandy Raymer, Executive Officer, SGBAR, 705-445-7295, ext. 5

About The Lakelands Association of REALTORS®: The Lakelands Association of REALTORS® represents over 850 local REALTOR® members who serve the District of Parry Sound, District Municipality of Muskoka, Haliburton County, and Northern Simcoe County including the City of Orillia.

About The Southern Georgian Bay Association of REALTORS®: The Southern Georgian Bay Association of REALTORS represents over 640 REALTORS® who serve Townships of Clearview, Springwater, Oro-Medonte, Tiny, Tay, Severn and Georgian Bay, as well as Municipality of Meaford and Grey Highlands including The Blue Mountains, Collingwood, Wasaga Beach, Midland, Penetanguishene.

The Lakelands Association of REALTORS® and Southern Georgian Bay Association of REALTORS® Announce Merger

May 20, 2021, Huntsville and Collingwood, ON — The Lakelands Association of REALTORS® (The Lakelands) and Southern Georgian Bay Association of REALTORS® (SGBAR) are pleased to announce their merger, following an overwhelming membership vote in favour on Wednesday, May 19, 2021 at each association’s respective membership meeting. The merger is scheduled to be effective October 1, 2021.

“By merging our two associations to create a membership of over 1,400 REALTORS®, our new association will be in a strong position to represent the small community and recreational property perspective within organized real estate,” offered Chuck Murney, President of The Lakelands. “It will also increase our political clout with the provincial and federal governments since the boundary of our new territory is better aligned with our political boundaries. We are pleased that the Lakelands and SGBAR members saw the benefits of this merger and voted in favour of the motion.”

“Our members will enjoy the cost savings that come through the merger and benefit from reduced member fees to improved programs and services, made possible by having a larger membership base”, offered Matthew Lidbetter, President of SGBAR. “Our members have put our new association in a stronger position to add depth and strength to our many programs and services, many of which exist to enhance the professionalism of our REALTOR® members and better respond to the evolving conditions as the market shifts.”

The proposed name for the new association will be Trillium REALTORS® Association, pending approval from Ontario Real Estate Association (OREA) and Canadian Real Estate Association (CREA).

About The Lakelands Association of REALTORS®: The Lakelands Association of REALTORS® represents over 850 local REALTOR® members who serve the District of Parry Sound, District Municipality of Muskoka, Haliburton County, and Northern Simcoe County including the City of Orillia.

About The Southern Georgian Bay Association of REALTORS®: The Southern Georgian Bay Association of REALTORS represents over 640 REALTORS® who serve Townships of Clearview, Springwater, Oro-Medonte, Tiny, Tay, Severn and Georgian Bay, as well as Municipality of Meaford and Grey Highlands including The Blue Mountains, Collingwood, Wasaga Beach, Midland, Penetanguishene.

Southern Georgian Bay Association of REALTORS® MLS® home sales surge to highest April on record

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 616 units in April 2021. This was more than double the levels from a year earlier, jumping 254% from April 2020. This was also a new sales record for the month of April.

Home sales were 48.6% above the five-year average and 48.6% above the 10-year average for the month of April.

On a year-to-date basis, home sales totaled a record 1,866 units over the first four months of the year. This was a jump of 81.9% from the same period in 2020.

The Southern Georgian Bay region comprises two distinctive markets.

Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 321 units in April 2021. This was more than double the levels from a year earlier, jumping 339.7% from April 2020. This was also a new sales record for the month of April.

Home sales in the Western Region were 48.5% above the five-year average and 44.9% above the 10-year average for the month of April.

On a year-to-date basis, home sales in the Western Region numbered a record 973 units over the first four months of the year. This was a jump of 99.4% from the same period in 2020.

Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, Severn, and Georgian Bay Townships, numbered 295 units in April 2021. This was more than double the levels from a year earlier, jumping 192.1% from April 2020. This was also a new sales record for the month of April.

Home sales in the Eastern Region were 48.7% above the five-year average and 52.8% above the 10-year average for the month of April.

On a year-to-date basis, home sales in the Eastern Region numbered a record 893 units over the first four months of the year. This was a jump of 66% from the same period in 2020.

“Home sales have reached a new April record, reaching above 600 for the first time in this month in history,” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “Regionally we’re seeing the same trends play out in the Western and Eastern Districts. A sustained influx of new listings has been spurring higher levels of sales but almost all that new supply is getting eaten up. As a result, overall inventories have stopped declining but are still trending at record lows, keeping the market in some of the tightest conditions on record.”

The number of new listings more than doubled the levels from a year earlier, jumping 106.7% from the lows in April 2020. There were 893 new residential listings in April 2021. This was the largest number of new listings added in the month of April in more than five years.

New listings were 31.2% above the five-year average and 8.1% above the 10-year average for the month of April.

Active residential listings numbered 550 units on the market at the end of April, a big decline of 58.4% from the end of April 2020. Active listings haven’t been this low in the month of April in three decades.

Active listings were 48.2% below the five-year average and 70.6% below the 10-year average for the month of April.

Months of inventory numbered 0.9 at the end of April 2021, down from the 7.6 months recorded at the end of April 2020 and below the long-run average of 5.2 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.

The dollar value of all home sales in April 2021 was $513.4 million, more than double the levels from a year earlier, increasing 482.3% from the same month in 2020. This was also a new record for the month of April.

Consult your Local REALTOR® for market conditions and home value information specific to your neighbourhood. Our REALTORS® live, work and play in Southern Georgian Bay and have the local knowledge you simply need to know!  Encompassing several communities along the shores of southern Georgian Bay, approximately 1½ to 2 hours from Greater Toronto, the area is one of Canada’s premier four-season recreational playgrounds.

The Southern Georgian Bay Association of REALTORS® represents more than 600 REALTORS® registered with its member offices.  The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, and parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains and portions of the Municipality of Meaford and Grey Highlands.

Provided by:
Matthew Lidbetter, 2021 President
Southern Georgian Bay Association of REALTORS®
matthew@bluemountainproperty.ca

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

 

Mortgage Pre-Approvals – What You Should Know

Many REALTORS® prefer their clients to have a mortgage pre-approval to know that they are a qualified buyer, and to understand their maximum borrowing capacity.

Pre-approvals: What you get
Before you start looking at potential properties, it’s important to know what price-range you’re qualified for. The lender will ask how much you’re prepared to put down and will require various documents to determine your pre-approval amount, including list of assets, income, debts, proof of employment, etc.. And if you’re self-employed, a notice of assessment from the Canada Revenue Agency for the past 2 years is required.

Getting pre-approved for a mortgage from Financial Consumer Agency of Canada 

With a pre-approval, you and your REALTOR® have a better understanding of what properties are within your price-range, keeping in mind additional costs are required for closing. A pre-approval allows you to get an estimate on mortgage payments and lock in an interest rate for 60-130 days, depending on the lender.

Pre-approvals: What you don’t get
A pre-approval does not guarantee a mortgage as there are additional items to be considered before transitioning from pre-approved to approved. The lender will require additional information as you start considering a property to purchase. Specific property details such as condo fees, may alter the pre-approval amount. Therefore, it’s important to keep your lender informed as you look at properties and prepare to submit an offer. 

Connect with your lender and REALTOR® early if you’re looking to purchase property to ensure you’re prepared and understand your maximum borrowing capacity. 

Source: https://www.canadianmortgagetrends.com/2021/04/a-pre-approval-does-not-guarantee-a-mortgage-approval/

How the 2021 Budget Released by the Government of Canada Supports Real Estate

REALTORS® are one of the biggest supporters of our communities. They advocate with Members of Parliament to address issues that affect homeowners and the REALTOR® community. 

Our Political Affairs Committee, alongside the Canadian Real Estate Association (CREA), and the Ontario Real Estate Association (OREA) are responsible for local, provincial, and federal advocacy on behalf of homeowners and ownership.

We’re pleased to see that key issues REALTORS® advocated for were addressed in the 2021 Budget released by the Government of Canada.

  • Housing Supply: The 2021 Budget proposes to advance and reallocate $1.3 billion through the National Housing Co-Investment Fund and the Rental Construction Financing Initiative, including for the conversion of vacant commercial property into housing.

  • Affordable Housing: In an effort to end homelessness, the Government responded by announcing $2.5 billion through the Canada Mortgage and Housing Corporation.
  • Conditions for the GST New Housing Rebate: Entitles home buyers to recover 36% of the GST paid on the purchase of a new home priced up to $350,000, for a maximum rebate of $6,300.
  • Build Greener Homes: $4.4 billion investment to the Canada Mortgage and Housing Corporation over five years to help homeowners complete home retrofits through interest-free loans worth up to $40,000.  Examples of deep retrofits include:
    • Replacing oil furnaces or low-efficiency systems with a high-efficiency furnace, air-source heat pump, or geothermal heat pump.
    • Better wall or basement insulation and/or wall or roof panels.
    • Installing a high-efficiency water heater or on-site renewable energy like solar panels
    • Replacing drafty windows and doors.
  • Flood Maps for Higher-Risk Areas: $63.8 million allocated to Natural Resources Canada, Environment and Climate Change Canada, and Public Safety Canada to work with provinces and territories to complete flood maps for higher-risk areas.
  • Broadband Internet Projects: Increasing broadband investment by $1 billion over six years to the Universal Broadband Fund to help Canada reach its goal of having 98% of the country connected to reliable internet service by 2026.

 

Sources:
Government of Canada https://www.budget.gc.ca/2021/home-accueil-en.html
OREA https://www.orea.com/News-and-Events/News-and-Press-Releases/Press-Releases/March-24-2021
CREA https://news2me.crea.ca/2021/april-2021/federal-budget-2021-what-you-need-to-know/

How our REALTOR® Volunteers make a difference in their Local Communities

The Southern Georgian Bay Association of REALTORS® is a not-for-profit organization. It depends on their member volunteers to help evolve and grow with member needs, industry trends, and our communities.

Our committees truly are the backbone of the Association, and contribute greatly to the health of our communities – here are a few ways how:

Advocate on behalf of homeowners and ownership
Our Political Affairs Committee is responsible for local, provincial, and federal advocacy on behalf of homeowners and ownership, as well as the Association. Their lobbying efforts support many issues that new homebuyers face, which include affordable housing options and increased inventory.  Their latest mission with our local MPPs focused on implementing a land transfer tax holiday, a home renovation tax credit, and identifying opportunity zones for increased housing supply.

Local Charitable Contributions
The Member Services Committee is proud to support local shelter-related causes each year with funds received from the REALTORS Care® Foundation, which each member contributes to monthly. In addition to this, much effort is put into our annual Turkey Challenge to raise funds to provide families in need with turkey vouchers during the Thanksgiving holiday season. Last year we were able to provide turkeys to 853 local families in need.

Local Education Opportunities
Professional development is a key focus of the Education Committee. In addition to countless education opportunities, each year local planners from each municipality are invited to speak to our membership to give members the opportunity to stay on top of municipal changes and developments.

Promote the use of a Local REALTOR®
Promoting the use of a Local REALTOR® is heavily supported by our Member Services Committee. Local REALTORS® have the local knowledge, market insight, and community network to confidently buy and sell a home in the region. This directly impacts how our communities grow and evolve, as an in-the-know REALTOR® professional is able to address important aspects when it comes to your home buying or selling journey. This includes investment properties, waterfront lots, Municipal regulations, zoning laws, and more.

We are grateful for our member volunteers and the passion, hard work, and dedication that goes into supporting our communities, the membership, and the association.

Photo credit: South Georgian Bay Tourism

 

MLS® home sales in Southern Georgian Bay overtake previous March record

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 645 units in March 2021. This was more than double the levels from a year earlier, surging 106.1% from March 2020. This was also a new sales record for the month of March.

On a year-to-date basis, home sales totaled a record 1,248 units over the first three months of the year. This was up sharply by 46.3% from the same period in 2020.

The Southern Georgian Bay region comprises two distinctive markets.

Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 326 units in March 2021. This was more than double the levels from a year earlier, surging 114.5% from March 2020. This was also a new sales record for the month of March.

On a year-to-date basis, home sales in the Western Region numbered a record 650 units over the first three months of the year. This was up sharply by 55.9% from the same period in 2020.

Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, Severn, and Georgian Bay Townships, numbered 319 units in March 2021. This was an advance of 98.1% from March 2020. This was also a new sales record for the month of March.

On a year-to-date basis, home sales in the Eastern Region numbered a record 598 units over the first three months of the year. This was a large increase of 37.2% from the same period in 2020.

“March was another incredibly strong month for MLS® market activity in our region.” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “Resale home sales set a new March record surpassing the previous mark of 477 set back in 2017. There was also a considerable increase in the number of new listings during this past month, which helped to backstop overall inventory. Although active listings continue to be at the lowest level in more than 30 years the number of available listings appears to be forming a bottom. However, with the spring market upon us we expect market conditions to remain extremely tight.”

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 $592,500 in March 2021, a significant gain of 40.8% compared to March 2020.

The benchmark price for single-family homes was $617,900, an advance of 43.6% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $486,800, up by 27.6% compared to a year earlier, while the benchmark apartment price was $386,300, a minor increase of 2.5% from year-ago levels.

The number of new listings saw a gain of 13% from March 2020. There were 780 new residential listings in March 2021. This was the largest number of new listings added in the month of March in more than five years.

Active residential listings numbered 407 units on the market at the end of March, down sharply by 68.2% from the end of March 2020. Active listings haven’t been this low in the month of March in more than three decades.

Months of inventory numbered 0.6 at the end of March 2021, down from the 4.1 months recorded at the end of March 2020 and below the long-run average of 5.3 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.

The dollar value of all home sales in March 2021 was $546 million, more than double the levels from a year earlier, rocketing up 214.5% from the same month in 2020. This was a new record for the month of March and was also the largest dollar value of homes sold for any month in history.

Consult your Local REALTOR® for market conditions and home value information specific to your neighbourhood. Our REALTORS® live, work and play in Southern Georgian Bay and have the local knowledge you simply need to know!  Encompassing several communities along the shores of southern Georgian Bay, approximately 1½ to 2 hours from Greater Toronto, the area is one of Canada’s premier four-season recreational playgrounds.

The Southern Georgian Bay Association of REALTORS® represents more than 600 REALTORS® registered with its member offices.  The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny and parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains and portions of the Municipality of Meaford and Grey Highlands.

Provided by:
Matthew Lidbetter, 2021 President
Southern Georgian Bay Association of REALTORS®
matthew@bluemountainproperty.ca

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.