Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 225 units in May 2020. This was a large decline of 38.5% from May 2019.
On a year-to-date basis, home sales totalled 1,008 units over the first five months of the year. This was a decrease of 16.2% from the same period in 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 121 units in May 2020. This was a large decline of 42.4% from May 2019.
On a year-to-date basis, home sales in the Western Region numbered 570 units over the first five months of the year. This was down 23.1% from the same period in 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 104 units in May 2020. This was a large decline of 33.3% from May 2019.
On a year-to-date basis, home sales in the Eastern Region numbered 438 units over the first five months of the year. This was down 5.2% from the same period in 2019.
“We’re seeing a modest improvement from the record lows in the previous month, and on our journey to recovery, it’s encouraging to see signs of life returning to the housing market.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “While Real Estate has remained an essential service during the pandemic, we’re prepared to continue to serve our clients and our
communities and optimistic for ongoing improvements for the months ahead.”
There were 462 new residential listings in May 2020. This was a considerable decline of 41.3% on a year-over-year basis down to the lowest May level in more than three decades.
Active residential listings numbered 1,027 units at the end of May. This was down 22.3% from the end
of May 2019.
Months of inventory numbered 4.6 at the end of May 2020, up from the 3.6 months recorded at the end of May 2019 but below the long-run average of 5.9 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 May 2020 was $124 million, declining significantly by
34% from this time in 2019.
Sales of all property types numbered 254 units in May 2020; this was a large decline of 38.6% from
May 2019. The total value of all properties sold was $132.5 million, declining significantly by 36.8%
from May 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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