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.