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Residential sales recorded through the MLS® system for the Southern Georgian Bay region totaled 713 units in August 2020, climbing 62.4% from August 2019. This was also a new sales record for the month of August.

On a year-to-date basis, home sales totalled 3,411 units over the first eight months of the year. This was an increase of 18.9% 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 418 units in August 2020. This was a jump of 80.2% from August 2019. This was also a new sales record for the month of August and was the highest level for any month in history.

On a year-to-date basis, home sales in the Western Region numbered 1,767 units over the first eight months of the year. This was an increase of 16.6% 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 295 units in August 2020. This was a significant increase of 42.5% from August 2019. This was also a new sales record for the month of August.

On a year-to-date basis, home sales in the Eastern Region numbered 1,644 units over the first eight months of the year. This was an increase of 21.5% from the same period in 2019.

“Sales activity remained strong in August.” said Mike Scholte, President of the Southern Georgian Bay Association of REALTORS®. “New listings continued to slowly return to the market but are having difficulty keeping pace with the number of sales. Strong demand and low inventory levels continue to be the driving factors contributing to the tightest markets we have seen in years.”

There were 699 new residential listings in August 2020. This was down 7.7% on a year-over-year basis.

Active residential listings numbered 938 units at the end of August. This was a large decline of 49.6% from the end of August 2019.
Months of inventory numbered 1.3 at the end of August 2020, down from the 4.2 months recorded at the end of August 2019 and below the long-run average of 6.1 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 August 2020 was $491.6 million, more than double the levels from a year earlier, surging 112.4% from this time in 2019. This was a new record for the month of August and was also the largest dollar value of homes sold for any month in history.

Sales of all property types numbered 784 units in August 2020; was a substantial increase of 59.3% from August 2019. The total value of all properties sold was $516.7 million, more than double the levels from a year earlier, jumping 105.7% from August 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.

Provided by:
Mike Scholte, President
Southern Georgian Bay Association of REALTORS®
mike.scholte@century21.ca

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics

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