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.
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
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.