Southern Georgian Bay MLS® home sales smash November record in both regions

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 417 units in November 2020. This was a large increase of 32.4% from November 2019 and was also a new sales record for the month of November.

On a year-to-date basis, home sales totaled 5,064 units over the first 11 months of the year increasing 32.4% from the same period in 2019.

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 215 units in November 2020. This was a notable gain of 32.7% from November 2019. Residential sales haven’t hit this level in the month of November in more than three decades.

On a year-to-date basis, home sales in the Western Region numbered 2,645 units over the first 11 months of the year, an increase of 25.7% from the same period in 2019.

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 202 units in November 2020. This was an improvement of 32% from November 2019. Residential sales haven’t reached this level in the month of November in more than 30 years.

On a year-to-date basis, home sales in the Eastern Region numbered 2,419 units over the first 11 months of the year. This was an increase of 28.5% from the same period in 2019.

“Home sales rose above 200 in November for the first time in history in both the Western and Eastern Regions, marking a continued surge in sales activity in the Southern Georgian Bay area,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “With overall supply levels already at record lows and little room left to fall any further, the unprecedented strength in demand is keeping the market well inside seller’s territory. Led by very strong gains in the single-family segment, price levels continue to rise to new record highs.”

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 $498,700, rising 21.9% in November 2020 compared to November 2019.

The benchmark price for single-family homes was $517,200, advancing 23.6% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units was $416,400, rising 13.5% compared to a year earlier, while the benchmark apartment price was $368,300, up 8.5% from year-ago levels.

There were 372 new residential listings in November 2020. This was down 5.8% on a year-over-year basis.

Active residential listings numbered 445 units at the end of November. This was a substantial decline of 64.9% from the end of November 2019 and is the first time active listings have been below 500 in over 30 years.

Months of inventory numbered 1.1 at the end of November 2020, down from the 4 months recorded at the end of November 2019 and below the long-run average of 6 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 November 2020 was $313.4 million, surging 84.5% from the same month in 2019. This was also a new record for the month of November.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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.

 

Southern Georgian Bay sets new monthly record in October

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 601 units in October 2020, was a large increase of 47.3% from October 2019. This was also a new sales record for the month of October.

On a year-to-date basis, home sales totalled 4,647 units over the first 10 months of the year. This was an increase of 26.5% from the same period in 2019.

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 332 units in October 2020. This was a huge increase of 62% from October 2019. This was also a new sales record for the month of October.

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On a year-to-date basis, home sales in the Western Region numbered 2,431 units over the first 10 months of the year. This was an increase of 25.1% from the same period in 2019.

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 269 units in October 2020. This was a notable gain of 32.5% from October 2019. This was also a new sales record for the month of October.

On a year-to-date basis, home sales in the Eastern Region numbered 2,216 units over the first 10 months of the year. This was an increase of 28.1% from the same period in 2019.

“Georgian Bay market activity continued to outperform expectations in October, setting records for key market metrics.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “The combination of a smaller number of new listings and higher than average demand for this time of year continue to contribute to an already historically tight market and push prices higher.”

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 for the Southern Georgian Bay region was $495,000, rising 20.1% in October 2020 compared to October 2019.

The benchmark price for single-family homes was $513,700, rising 21.8% on a year-over-year basis in October By comparison, the benchmark price for townhouse/row units was $418,500, rising 11.7% compared to a year earlier, while the benchmark apartment price was $359,400, up 8% from year-ago levels.

There were 534 new residential listings in October 2020. This was down 24.1% on a year-over-year basis.

Active residential listings numbered 603 units at the end of October. This was a large decline of 61.4% from the end of October 2019.

Months of inventory numbered 1 at the end of October 2020, down from the 3.8 months recorded at the end of October 2019 and below the long-run average of 5.5 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 residential transactions in October 2020 was $442.6 million, surging 92.9% from this time in 2019. This was also a new record for the month of October.

Sales of all property types numbered 685 units in October 2020; was a large increase of 49.6% from October 2019. The total value of all properties sold was $474.7 million, a large increase of 95.1% from October 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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.

Southern Georgian Bay home sales set new monthly record in September

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 627 units in September 2020, advancing 57.9% from September 2019. This was also a new sales record for the month of September.

On a year-to-date basis, home sales totalled 4,054 units over the first nine months of the year. This was an increase of 24.2% from the same period in 2019.

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 333 units in September 2020. This was a large gain of 49.3% from September 2019 and was also a new sales record for the month of September.

On a year-to-date basis, home sales in the Western Region numbered 2,105 units over the first nine months of the year. This was an increase of 21.1% from the same period in 2019.

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 294 units in September 2020. This surging by 69% from September 2019. This was also a new sales record for the month of September.

On a year-to-date basis, home sales in the Eastern Region numbered 1,949 units over the first nine months of the year. This was an increase of 27.6% from the same period in 2019.

“Georgian Bay market activity continued to outperform expectations in September,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “The combination of a smaller number of new listings and better than average demand for this time of year continue to contribute to an already historically tight market.”

There were 729 new residential listings in September 2020. This was down 8.1% on a year-over-year basis.

Active residential listings numbered 806 units at the end of September. This was a large decline of 54.5% from the end of September 2019.

Months of inventory numbered 1.3 at the end of September 2020, down from the 4.5 months recorded at the end of September 2019 and below the long-run average of 6.1 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.

The dollar value of all residential transactions in September 2020 was $445.2 million, more than double the levels from a year earlier, surging 100.7% from this time in 2019. This was also a new record for the month of September.

Sales of all property types numbered 729 units in September 2020; was a large increase of 70.3% from September 2019. The total value of all properties sold was $499.3 million, more than double the levels from a year earlier, climbing 111.5% from September 2019.

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:
Mike Scholte, President

Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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

Southern Georgian Bay housing market continues setting new records in August

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 713 units in August 2020, climbing 62.4% from August 2019. This was also a new sales record for the month of August.

On a year-to-date basis, home sales totalled 3,411 units over the first eight months of the year. This was an increase of 18.9% from the same period in 2019.

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 418 units in August 2020. This was a jump of 80.2% from August 2019. This was also a new sales record for the month of August and was the highest level for any month in history.

On a year-to-date basis, home sales in the Western Region numbered 1,767 units over the first eight months of the year. This was an increase of 16.6% from the same period in 2019.

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 August 2020. This was a significant increase of 42.5% from August 2019. This was also a new sales record for the month of August.

On a year-to-date basis, home sales in the Eastern Region numbered 1,644 units over the first eight months of the year. This was an increase of 21.5% from the same period in 2019.

“Sales activity remained strong in August.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “New listings continued to slowly return to the market but are having difficulty keeping pace with the number of sales. Strong demand and low inventory levels continue to be the driving factors contributing to the tightest markets we have seen in years.”

There were 699 new residential listings in August 2020. This was down 7.7% on a year-over-year basis.

Active residential listings numbered 938 units at the end of August. This was a large decline of 49.6% from the end of August 2019.
Months of inventory numbered 1.3 at the end of August 2020, down from the 4.2 months recorded at the end of August 2019 and below the long-run average of 6.1 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.

The dollar value of all residential transactions in August 2020 was $491.6 million, more than double the levels from a year earlier, surging 112.4% from this time in 2019. This was a new record for the month of August and was also the largest dollar value of homes sold for any month in history.

Sales of all property types numbered 784 units in August 2020; was a substantial increase of 59.3% from August 2019. The total value of all properties sold was $516.7 million, more than double the levels from a year earlier, jumping 105.7% from August 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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

Southern Georgian Bay continues its dramatic recovery, setting new home sales records in July

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 594 units in July 2020. This was a significant increase of 57.6% from July 2019. This was a new sales record for the month of July and was the highest level for any month in history.

On a year-to-date basis, home sales totalled 2,094 units over the first seven months of the year. This was up 8.6% from the same period in 2019.

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 369 units in July 2020. This was a significant increase of 70.8% from July 2019. This was a new sales record for the month of July and was the highest level for any month in history.

On a year-to-date basis, home sales in the Western Region numbered 1,219 units over the first seven months of the year. This was up 6.9% from the same period in 2019.

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 225 units in July 2020. This was a large increase of 39.8% from July 2019.

On a year-to-date basis, home sales in the Eastern Region numbered 875 units over the first seven months of the year. This was an increase of 11% from the same period in 2019.

“Sales activity increased dramatically across the Southern Georgian Bay region in July.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “This past month had the highest number of home sales since June 2016, setting a new single month record. New listings increased slightly year over year, posting the largest number added in the month of July in more than five years.”
There were 655 new residential listings in July 2020. This was up 8.3% on a year-over-year basis.

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Active residential listings numbered 910 units at the end of July. This was a large decline of 37.2% from the end of July 2019.

Months of inventory numbered 1.5 at the end of July 2020, down from the 3.8 months recorded at the end of July 2019 but below the long-run average of 6.1 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.

The dollar value of all residential transactions in July 2020 was $384.6 million, more than double the levels from a year earlier, rising 101.3% from this time in 2019. This was a new record for the month of July and was also the largest dollar value of homes sold for any month in history.

Sales of all property types numbered 659 units in July 2020; climbing 61.5% from July 2019. The total value of all properties sold was $414.9 million, more than double the levels from a year earlier, up 102.9% from July 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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.

Southern Georgian Bay home sales posts second strongest June on record

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 494 units in June 2020. This was up 42% from June 2019.

On a year-to-date basis, home sales totalled 1,501 units over the first six months of the year. This edged down 3.2% from the same period in 2019.

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 281 units in June 2020. This was a substantial increase of 53.6% from June 2019.

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On a year-to-date basis, home sales in the Western Region numbered 851 units over the first six months of the year. This was down 7.9% from the same period in 2019.

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 213 units in June 2020. This was an increase of 29.1% from June 2019.

On a year-to-date basis, home sales in the Eastern Region numbered 650 units over the first six months of the year. This edged up 3.7% from the same period in 2019.

“Sales activity surged in June with buyers making up for lost time in the spring market,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “New listings increased as well although not to the same extent as sales, this has led to very tight market conditions.”

There were 674 new residential listings in June 2020. This was down 6.5% on a year-over-year basis.

Active residential listings numbered 998 units at the end of June. This was a decline of 32.5% from the end of June 2019.

Months of inventory numbered 2 at the end of June 2020, down from the 4.3 months recorded at the end of June 2019 but below the long-run average of 6.1 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.

The dollar value of all residential transactions in June 2020 was $302.4 million, a significant increase of 69.9% from this time in 2019.

This was a new record for the month of June and was also the largest dollar value of homes sold for any month in history.

Sales of all property types numbered 541 units in June 2020; this was up 35.6% from June 2019. The total value of all properties sold was $320.1 million, climbing 66.4% from June 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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

Southern Georgian Bay home sales and new listings post small rebound in May from record low April – optimistic for continued improvements for the months ahead

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 225 units in May 2020. This was a large decline of 38.5% from May 2019.

On a year-to-date basis, home sales totalled 1,008 units over the first five months of the year. This was a decrease of 16.2% from the same period in 2019.

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 121 units in May 2020. This was a large decline of 42.4% from May 2019.

On a year-to-date basis, home sales in the Western Region numbered 570 units over the first five months of the year. This was down 23.1% from the same period in 2019.

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 104 units in May 2020. This was a large decline of 33.3% from May 2019.

On a year-to-date basis, home sales in the Eastern Region numbered 438 units over the first five months of the year. This was down 5.2% from the same period in 2019.

“We’re seeing a modest improvement from the record lows in the previous month, and on our journey to recovery, it’s encouraging to see signs of life returning to the housing market.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “While Real Estate has remained an essential service during the pandemic, we’re prepared to continue to serve our clients and our
communities and optimistic for ongoing improvements for the months ahead.”

There were 462 new residential listings in May 2020. This was a considerable decline of 41.3% on a year-over-year basis down to the lowest May level in more than three decades.

Active residential listings numbered 1,027 units at the end of May. This was down 22.3% from the end
of May 2019.

Months of inventory numbered 4.6 at the end of May 2020, up from the 3.6 months recorded at the end of May 2019 but below 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.

The dollar value of all residential transactions in May 2020 was $124 million, declining significantly by
34% from this time in 2019.

Sales of all property types numbered 254 units in May 2020; this was a large decline of 38.6% from
May 2019. The total value of all properties sold was $132.5 million, declining significantly by 36.8%
from May 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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

Southern Georgian Bay home sales and new listings down due to State of Emergency

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 126 units in April 2020. This was a large decline of 58.3% from April 2019 and marked the lowest level for this month since 1995.

On a year-to-date basis, home sales totalled 785 units over the first four months of the year. This was down 6.2% from the same period in 2019.

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 66 units in April 2020. This was a large decline of 64.9% from April 2019.

On a year-to-date basis, home sales in the Western Region numbered 451 units over the first four months of the year. This was a decrease of 15.1% from the same period in 2019.

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 60 units in April 2020. This was a large decline of 47.4% from April 2019.

On a year-to-date basis, home sales in the Eastern Region numbered 334 units over the first four months of the year. This was up 9.2% from the same period in 2019.

“Demand and supply both stepped out of the housing market in April as we saw the first full month of physical distancing measures pass by,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “REALTORS® continue to adjust the way we do business to adhere to the mandates set in place, and we are hopeful for increased market activity come late-Spring as demand grows and restrictions ease.”

There were 321 new residential listings in April 2020. This was a large decline of 43.4% on a year-over-year basis and marked the lowest April in more than 30 years.

Active residential listings numbered 966 units at the end of April. This was a decrease of 10.8% from the end of April 2019.

Months of inventory numbered 7.7 at the end of April 2020, up from the 3.6 months recorded at the end of April 2019 and above the long-run average of 6.4 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 residential transactions in April 2020 was $60.3 million, declining significantly by 60.4% from this time in 2019.
Sales of all property types numbered 148 units in April 2020; this was a large decline of 57.1% from April 2019. The total value of all properties sold was $65.8 million, declining significantly by 60.3% from April 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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.

An Interview with On The Bay Magazine

On The Bay Magazine | Interview Date: February 4, 2020 | Local News

An interview with the president of our local real estate board

For the first time since 2010, the average sales price for homes in Southern Georgian Bay surpassed the half-million-dollar mark. And the forecast suggests the new decade will continue to mean new highs. It’s not surprising that the outlook is positive; Maclean’s magazine lists Collingwood as one of the top 25 communities in all of Canada in which to live, citing demographics, culture and community, and commute as the top three reasons to call our area home. “Consumers locally, provincially, nationally and internationally continue to fall in love with our market from lifestyle and investment perspectives,” says Mike Scholte, president of the Southern Georgian Bay Association of Realtors (SGBAR). “Our area continues to be discovered as a suitable community to accommodate all stages of life combined with great infrastructure and proximity to major urban centers.”

On The Bay interviewed Scholte to get his thoughts on today’s real estate market in the SGBAR’s Western District, which includes Wasaga Beach, Springwater, Clearview Township, Collingwood, The Blue Mountains, Meaford and Grey Highlands. Here are his insights.

How would you describe the current resale home market, and why?
Mike Scholte: We’re seeing year over year growth in terms of sales and property values in the Southern Georgian Bay market. Numbers have been steady and consistent. There are indications of a balanced market, which is nice. There is a slight favouring for the seller, but it’s not outrageous as in years passed.

Sellers around here don’t have as much power as the Toronto and Vancouver markets. Here there is still a trend of buyers having choice. We are unique because if this area doesn’t work for buyers, they can try the Muskokas or Haliburton. Or if they do want to move to this area, they have choice within it. In Toronto, they don’t have as much choice; if they have to be there for work, they have to buy there. We don’t see the ‘we will buy anything’ mentality here like you do in Vancouver or Toronto.

What are some key numbers to illustrate the current state of the market?
MS: The Southern Georgian Bay Association of Realtors (SGBAR) Western District had residential sales activity of 1,997 sales in 2019, up 10.6 per cent from the same period in 2018. There were 3,484 new listings with an average of 690 active listings per month.

Important metrics for the state of the real estate market include the sales to new listing ratio and months of inventory (MOI). The sales to new listing ratio is the ratio between the number of homes sold and the number of new listings entering the market. This metric normally falls around 50 per cent during a balanced market. A higher ratio implies a seller’s market and a lower ratio implies a buyer’s market. Given that our district has a 2019 sales to new listing ratio of 57.3, we can say that we are in a balanced market with a slight tendency toward a seller’s market.

The MOI metric indicates the supply and demand relationship in the housing market. This ratio represents the number of months it would take to sell homes, based on an area’s current rate of sales activity. For example, if there are 100 listings currently on the market, and 20 properties are being sold each month, then if no new listings appeared, the inventory would be sold within five months.

A balanced market has about five or six months of inventory on the market, indicating that the supply and demand for properties in the area is equal. If there were greater than six months of inventory, it would be indicative of a buyer’s market and less then six months of inventory would be indicative of a seller’s market. The fewer months of inventory, the more competitive the market. In the Western District of SGBAR, the 2019 year-to-date MOI was 4.1, again suggesting a seller’s market.

Finally, in the Western District of SGBAR, the average sales price was $548,373 which is the highest average since 2010.

How has the market changed since last year at this time?
MS: What I love about this year is that we have more consistent numbers to base decisions on. Last year at this time we were coming out of a very sporadic market and it was harder to make pricing decisions for sellers. There was a gap in expectations between sellers and buyers. There has been a stabilization in prices and now we have proof as to where things should be priced. It is about managing expectations and people are no longer basing prices on, ‘what do the neighbours say.’

Are there differences across the Western Region? For example, between Collingwood and The Blue Mountains, Meaford, Wasaga Beach, etc.?
MS: Yes, each community has its own unique micro market within our district. Our area is geographically varied and includes town, rural, recreational, condominium and resort properties, which are unique not only in type but also location. Collingwood and the Town of The Blue Mountains see higher pricing and you might not find your starter home in those areas. It is important to be open to looking at different options. There are fabulous opportunities in some of the outlying areas like Wasaga Beach, Stayner and Meaford and people are beginning to look at these areas as suitable alternatives. As realtors, it is our job to manage clients’ expectations and as buyers we have to be realistic.

Over the last two years, our market experienced the same intensity, as did much of the Canadian real estate market, and this led to a heightened urgency with buyers and sellers but also a fear of destabilization. Several measures were put into place by the government to ‘cool’ the market, including the introduction of the mortgage stress test and more stringent income qualification for purchasers. These measures are now entrenched, and impact both selling and buying decisions. You have to be open to opportunities and ask yourself what you can afford and get for your dollars.

How are low inventory and other market forces affecting home prices in our area?
MS: Low inventory increases the pressure on potential buyers and will impact price. However, we are starting to see new development projects in all areas, and this will offer some supply relief. Buyer choice of community is likely to offset some of that pressure as well.

SGBAR’s Western District continues to experience a balanced market trending towards a seller’s market. That being said, we are finding that buyer and seller expectations have an enormous impact on the successful sale and purchase of a property. Overpriced houses do sit. It is important to listen to the numbers. Consumers have choice, no matter how low the inventory.

What are the challenges in the current market, for both buyers and sellers?
MS: Low-interest rates combined with the stability of the SGBAR market make our community very attractive to suppliers of mortgage financing; however, purchaser and seller qualification is still a challenge. There are unique and effective solutions to financing the purchase of a new home, but preparation is required. Get professional advice to make sure you are prepared. This allows you to work quicker and seek out a better experience in purchasing or in the sale of your house.

As president of the SGBAR, what is your forecast for the near-future real estate market in our area (next 12 months)?
MS: No-one is privy to a crystal ball; however, the market trends indicate the next 12 months will produce a strong market in our area. Low-interest rates, a growing economy and stable job statistics will bolster confidence. This area continues to build momentum, especially in some of the outlying areas like Stayner and Wasaga Beach. More and more we are looking at all communities, not just one, with potential buyers.

Inventory will continue to be low, but as we ramp up into the summer season I am optimistic. We had a really easy winter, because of the weather. People were able to come here to look and realtors were busy throughout the winter. More temperate winters accelerate our spring market. There seem to be a lot of potential sellers prepping houses and getting ready, and there is a lot of interest from people within the area and outside. It is reasonable to forecast growth in our real estate market. There is a robust market in Toronto, and we tend to follow urban market trends shortly after.

Source: http://onthebaymagazine.com/real-estate-qa-2/

Southern Georgian Bay home sales up overall in March, but demand and supply are both slowing amid COVID-19

Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 254 units in March 2020. This was up 7.6% from March 2019.

On a year-to-date basis, home sales totalled 661 units over the first three months of the year, an increase of 23.6% from the same period in 2019.

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 151 units in March 2020. This edged up 3.4% (five sales) from March 2019.

On a year-to-date basis, home sales in the Western Region numbered 386 units over the first three months of the year. This was an increase of 12.5% from the same period in 2019.

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 103 units in March 2020, up 14.4% (13 sales) from March 2019.

On a year-to-date basis, home sales in the Eastern Region numbered 275 units over the first three months of the year. This was a large 43.2% increase from the same period in 2019.

“Not surprisingly, most of that year-over-year increase in sales activity was recorded in the first half of March,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “Going forward, things are likely to quiet way down as both buyers and sellers put their plans on hold amid the coronavirus pandemic.”

There were 513 new residential listings in March 2020. This was up 5.8% on a year-over-year basis.

Active residential listings numbered 924 units at the end of March, down 3% from the end of March 2019. Overall supply remains low compared to historical levels.

Months of inventory numbered 3.6 at the end of March 2020, down from the 4 months recorded at the end of March 2019 and below the 10-year average of 6.7 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 residential transactions in March 2020 was $136.1 million, rising 10.8% from this time in 2019.

Sales of all property types numbered 277 units in March 2020, up 3% (eight sales) from March 2019. The total value of all properties sold was $143.5 million, climbing 6.8% from March 2019.

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:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.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