September Home Sales Hit Record
Home sales in the Western Region of Southern Georgian Bay, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 201 units in September 2019. This was a 33.1% jump from September 2018 and marked just the fourth time in history that activity has topped the 200 unit mark in this month. On a year-to-date basis, there were 1558 home sales in these areas over the first nine months of the year, an increase of 10.9% from the same period in 2018.
According to the President of the Southern Georgian Bay Association of REALTORS®, “the rebound in activity in the Western District is in line with the trend across much of Ontario, where sales have finally begun improving following a tough couple of years in the wake of the Ontario Fair Housing Plan and B-20 stress test.”
There were 332 new residential listings in September 2019. This was an increase of 14% on a year-over-year basis. Active residential listings numbered 802 units at the end of September, up 12.8% from the end of September 2018. Despite the increase, overall supply remains pretty low compared to historical levels. Months of inventory numbered 4.2 at the end of September 2019. 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 September 2019 was $109 million, setting a new record for the month of September.
To view a detailed breakdown of listings, sales and average home prices, by community in our region, view the full report here.
Data Source: Canadian MLS® Systems, CREA