Southern Georgian Bay home sales miss January record by a single sale
Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 182 units in January 2020. This was a large 35.8% increase from January 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 101 units in January 2020, up 17.4% (15 sales) from January 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 81 units in January 2020, surging 68.8% from January 2019.
“2020 got off to a great start in both the Western and Eastern Regions of the Association’s geographic coverage area, with overall sales coming in just one sale shy of the all-time January record set back in 2016,” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “Strengthening sales in an environment of still low supply suggests 2020 could be another year of strong price growth.”
There were 335 new residential listings in January 2020. This was an increase of 14.7% on a year-over-year basis.
Active residential listings numbered 780 units at the end of January, up 3.7% from the end of January 2019. Despite the small increase, overall supply is still historical low.
Months of inventory numbered just 4.3 at the end of January 2020, down from the 5.6 months recorded at the end of January 2019 and not far off all-time lows 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 January 2020 was $102.1 million, a 44.8% surge from this time in 2019. This was a new record for the month of January by a margin of more than $30 million.
Sales of all property types numbered 202 units in January 2020, an increase of 20.2% from January 2019. The total value of all properties sold was $110.2 million, rising 22.9% from January 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®
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