Posted On: Friday, August 9, 2019
Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 380 units in July 2019. This was an increase of 19.5% from July 2018.
On a year-to-date basis, home sales totalled 1,938 units over the first seven months of the year, up 8.9% 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 217 units in July 2019. This was a large 36.5% increase from July 2018.
On a year-to-date basis, home sales in the Western Region numbered 1,146 units over the first seven months of the year, up 6.4% 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 163 units in July 2019, edging up 2.5% (four sales) from July 2018.
On a year-to-date basis, home sales in the Eastern Region numbered 792 units over the first seven months of the year, an increase of 12.8% from the same period in 2018.
“Home sales in July 2019 hit the highest level for that month in three years, with only July 2016 standing materially higher,” said Stan Reljic, President of the Southern Georgian Bay Association of REALTORS®. “As was the case in June, with the market still tight the increase in sales came alongside an increase in new listings that buyers quickly snapped up.”
There were 604 new residential listings in July 2019. This was an increase of 17.3% on a year-over-year basis and was also the highest level for that month since 2015.
Active residential listings numbered 1,413 units at the end of July. This was an increase of 16.9% from the end of July 2018. Despite the increase, overall supply remains very low compared to historical levels, way below levels prior to 2016.
Months of inventory numbered 3.7 at the end of July 2019, little changed from the 3.8 months recorded at the end of July 2018 and only about half the 10-year average of 7.1 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 2019 was $192.4 million, a large increase of 36.1% from this time in 2018. This was a new record for the month of July.
Sales of all property types numbered 411 units in July 2019, an increase of 15.4% from July 2018. The total value of all properties sold was $205.9 million, jumping 36.1% from July 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 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®
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