Southern Georgian Bay home sales set October record on Eastern District strength
Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in above year-ago levels in October 2016. Home sales numbered 330 units in October 2016, up 4.4 per cent from a year earlier. This was a record for the month of October.
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 was down 5.5 per cent on a year-over-year basis to 205 units in October 2016. While sales were down slightly, declining supply is placing a limit on how many transactions are possible. Overall supply remains at the lowest levels in more than a decade, down 48.4% from the October 2015. Year-to-date sales in the Western Region for all property types remain up 17 % from 2015.
Meanwhile, 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, totaled 125 units in October. This was a new October record, up 26.3 per cent from one year earlier.
- October 2016 real estate sales, including residential and non-residential numbered 254, an increase of – 8% on a year-over-year basis.
- Total sales dollar volume for all real estate sales in the Western Region for the month of October was $94,406,889, up 21% over the same period last year, while sales dollar volume is up 29% year-to-date.
Residential Real Estate Western Region
- Residential Sales numbered 205, a – 5.5% decrease over the same period in 2015.
- Residential listings – 204 new listings for the month of October, down – 13.6%, and total number of listings in the system – 397, down by – 48.4%.
Local Market Stats
- Clearview: 20 units sold – an increase of – 33.3% over 15 units sold in October 2015. The 12 month average price increased 33% to $479,784. Year to date sales volume (number of units sold) is up 29%.
- Collingwood: 22 units sold – a decrease of – 37% over 32 units sold in October 2015. The 12 month average price increased 17.5% to $428,515. Year to date sales volume is up 5.1%
- The Blue Mountains: 24 units sold – a decrease of – 14.3% over 28 units sold in October 2015. The 12 month average price increased 4.9% to $633,426. Year to date sales volume is down -8%.
- Municipality of Meaford: 20 units sold – an increase of 53.8% over 13 units sold October 2015. The 12 month average price increased 8.6% to $344,332. Year to date sales volume is up 18.6%.
- Wasaga Beach: 58 units sold – a decrease of – 25% of 42 units sold over October 2015. The 12 month average price increased 10.1% to $345,862. Year to date sales volume is up 17.6%