Posted On: Thursday, April 4, 2019
Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 236 units in March 2019. This was little changed, edging back just 0.8% (two sales), from March 2018.
On a year-to-date basis, home sales totaled 536 units over the first three months of the year, up 2.3% (12 sales) from the same period in 2018.
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 146 units in March 2019. This was down 9.3% (15 sales) from March 2018.
On a year-to-date basis, home sales in the Western Region numbered 343 units over the first three months of the year, down 2% (seven sales) from the same period in 2018.
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 90 units in March 2019. This was an increase of 16.9% (13 sales) from March 2018.
On a year-to-date basis, home sales in the Eastern Region numbered 193 units over the first three months of the year, an increase of 10.9% from the same period in 2018.
“Home sales posted a solid year-over-year gain in the Eastern district of our overall geographic coverage region in March 2019, which almost exactly offset a decline in the Western district,” said Stan Reljic, President of the Southern Georgian Bay Association of REALTORS®. “Having said that, with inventories across the region still near historic lows, these monthly sales fluctuations may simply reflect where the really desirable properties are coming up for sale.”
There were 486 new residential listings in March 2019, climbing 4.1% on a year-over-year basis.
Overall supply remains near historic lows. Active residential listings numbered 934 units at the end of March, an increase of 13.1% from the end of March 2018. That said, looking back over the last 20 years, inventories at this time of the year have averaged about 1,800 listings.
Months of inventory numbered 4 at the end of March 2019, up a bit from the 3.5 months recorded at the end of March 2018 but still less than half the long-run average of 8.5 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 March 2019 was $122.8 million, up 6.3% from this time in 2018.
Sales of all property types numbered 270 units in March 2019, down 3.2% (nine sales) from March 2018. The total value of all properties sold was $134.4 million, up 7.6% from March 2018.
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 an estimated 580 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.
Stan Reljic, President
Southern Georgian Bay Association of REALTORS®
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