fbpx

Residential sales recorded through the MLS® System for the Southern Georgian Bay region totaled 573 units in May 2021. This was up sharply by 80.8% from May 2020. Residential sales haven’t hit this level in the month of May in five years.

Home sales were 25.3% above the five-year average and 22.1% above the 10-year average for the month of May.

On a year-to-date basis, home sales totaled a record 2,434 units over the first five months of the year. This was a substantial increase of 81.2% from the same period in 2020.

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 286 units in May 2021. This was up sharply by 97.2% from May 2020.

Home sales in the Western Region were 19.8% above the five-year average and 17.9% above the 10-year average for the month of May.

On a year-to-date basis, home sales in the Western Region numbered a record 1,258 units over the first five months of the year. This was a substantial increase of 98.7% from the same period in 2020.

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 287 units in May 2021. This was up sharply by 66.9% from May 2020. Residential sales haven’t hit this level in the month of May in five years.

Home sales in the Eastern Region were 31.4% above the five-year average and 26.5% above the 10-year average for the month of May.

On a year-to-date basis, home sales in the Eastern Region numbered a record 1,176 units over the first five months of the year. This was a substantial increase of 65.6% from the same period in 2020.

“Home sales haven’t taken their foot off the gas since around June of last year, with this May posting the second highest level in history for the month,” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “There hasn’t been much relief on the supply side. New listings have come back stronger than before, but this has only managed to stop inventories from declining further, which have now more or less stabilized at record lows. Market conditions remain historically tight and prices continue their ascent to new highs.”

The number of new listings was up sharply by 36.6% from May 2020. There were 829 new residential listings in May 2021.

New listings were 3% below the five-year average and 13.5% below the 10-year average for the month of May.

Active residential listings numbered 658 units on the market at the end of May, a substantial decline of 51.8% from the end of May 2020. Active listings haven’t been this low in the month of May in three decades.

Active listings were 48.1% below the five-year average and 69.1% below the 10-year average for the month of May.

Months of inventory numbered 1.1 at the end of May 2021, down from the 4.3 months recorded at the end of May 2020 and below the long-run average of 4.8 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 home sales in May 2021 was $511.1 million, more than double the levels from a year earlier, surging 163.2% from the same month in 2020. This was also a new record for the month of May.

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:
Matthew Lidbetter, 2021 President
Southern Georgian Bay Association of REALTORS®
matthew@bluemountainproperty.ca

CONTACT A LOCAL REALTOR®