Southern Georgian Bay home sales post new all-time record
Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in well above year-ago levels in June 2016.
Home sales numbered 444 units in June 2016, rising 19 percent from a year earlier.
The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western Region which includes Wasaga Beach, Springwater, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford and Grey Highlands rose 19.1 percent on a year-over-year basis to 287 units in June 2016.
Home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, and the Townships of Georgian Bay, Severn, Oro-Medonte, Tay and Tiny totalled 157 units in June. This was an increase of 18.9 percent from June 2015.
On a year-to-date basis, home sales totalled 1,876 units over the first half of the year, rising 25.6 percent from the same period in 2015.
Year-to-date sales in the Western Region were up 21.4 percent from 2015. Activity over the first half of 2016 recorded a gain of 34.2 percent year-over-year in the Eastern Region.
“June 2016 saw more residential properties trade hands in the region served by the Association than in any other month in history, breaking the previous record set the month before,” said Kevin Woolham, President of the Southern Georgian Bay Association of REALTORS®. “While the overall stock of listings relative to demand is currently sitting at unprecedented lows, there has been some
relief in the form of a solid rebound in new listings in the Western District.”
The number of new residential listings in June 2016 was 592 units, up 2.2 percent from a year earlier.
Overall supply remains at the lowest levels in more than a decade. There were 1,095 active residential listings on the Association’s MLS® System at the end of June 2016, down 37.2 percent from year-ago levels.
There were just 2.5 months of inventory at the end of June, down from the 4.7 months recorded at the end of June 2015 and well below the long-run average 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 value of all residential transactions in June was $150.1 million – the first time that the monthly dollar volume has ever surpassed the $150 million mark.
Sales of all types of properties numbered 484 units in June, an increase of 13.1 percent compared to the same month in 2015. The total value of all properties sold in June 2016 was $162.7 million, up 30 percent from June 2015.
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 over 500 REALTORS® registered with its member offices. The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the Townships of Georgian Bay, Severn, Oro-Medonte, Tay, Tiny and Springwater, Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford and Grey Highlands.
Kevin Woolham, President
Southern Georgian Bay Association of REALTORS®
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