Posted On: Friday, October 4, 2019
Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 317 units in September 2019. This was an increase of 17.4% from September 2018.
On a year-to-date basis, home sales totalled 2,586 units over the first nine months of the year, up 8.5% 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 201 units in September 2019. This was a 33.1% jump from September 2018 and marked just the fourth time in history that activity has topped the 200 unit mark in this month.
On a year-to-date basis, home sales in the Western Region numbered 1,558 units over the first nine months of the year, an increase of 10.9% 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 116 units in September 2019. This edged down 2.5% (three sales) from September 2018.
On a year-to-date basis, home sales in the Eastern Region numbered 1,028 units over the first nine months of the year, rising 5.1% from the same period in 2018.
“Overall home sales continued to improve in September, with virtually all of the gains coming from the Western Region of the Association’s geographical coverage area,” said Stan Reljic, President of the Southern Georgian Bay Association of REALTORS®. “The rebound in activity in the Western District is in line with the trend across much of Ontario, where sales have finally begun improving following a tough couple of years in the wake of the Ontario Fair Housing Plan and B-20 stress test.”
There were 577 new residential listings in September 2019. This was an increase of 21.5% on a year-over-year basis.
Active residential listings numbered 1,345 units at the end of September, up 13.9% from the end of September 2018. Despite the increase, overall supply remains pretty low compared to historical levels.
Months of inventory numbered 4.2 at the end of September 2019, down from the 4.4 months recorded at the end of September 2018 and well below the 10-year average of 7.4 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 September 2019 was $167.6 million, rising 25.2% from this time in 2018. This was a new record for the month of September.
Sales of all property types numbered 352 units in September 2019, an increase of 16.6% from September 2018. The total value of all properties sold was $186.1 million, rising 26.5% from September 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 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.
Stan Reljic, President
Southern Georgian Bay Association of REALTORS®
©2019 South Georgian Bay Association of Realtors Website designed & hosted by Running Tide Inc.