Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 365 units in February 2021. This was an increase of 14.1% from February 2020 and was also a new sales record for the month of February.

On a year-to-date basis, home sales totaled 601 units over the first two months of the year. This was an increase of 14.1% 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 198 units in February 2021. This was an increase of 26.9% from February 2020. Residential sales haven’t hit this level in the month of February in more than four decades.

On a year-to-date basis, home sales in the Western Region numbered 326 units over the first two months of the year. This was an increase of 23.5% 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 167 units in February 2021. This edged up 1.8% from February 2020. Residential sales haven’t hit this level in the month of February in more than four decades.

On a year-to-date basis, home sales in the Eastern Region numbered 275 units over the first two months of the year. This edged up 1.5% from the same period in 2020.

“A small boost in new listings helped sales climb even further, raising them to the highest February on record,” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “An influx of new listings may have pulled the market back from the tightest conditions on record, but we are still very much in seller’s territory.”

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 $555,500, a large increase of 31.6% in February 2021 compared to February 2020.

The benchmark price for single-family homes was $579,500, a large increase of 33.7% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $452,600, rising 21.2% compared to a year earlier, while the benchmark apartment price was $370,300, up 8.7% from year-ago levels.

There were 533 new residential listings in February 2021. This was down 5.2% on a year-over-year basis.

Active residential listings numbered 372 units at the end of February, a large decline of 67.1% from the end of February 2020. Active listings haven’t been this low in the month of February in more than three decades.

Months of inventory numbered 1 at the end of February 2021, down from the 3.5 months recorded at the end of February 2020 and below the long-run average of 6.3 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 February 2021 was $288.3 million, a large increase of 54.5% from the same month in 2020. This was also a new record for the month of February.

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.