[vc_row][vc_column][vc_single_image image=”291175″ img_size=”full”][vc_column_text]Southern Georgian Bay home sales set new record for March
Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in above year-ago levels in March 2017.
Home sales numbered 298 units in March 2017, rising 16.4% from a year earlier. Year-to-date home sales numbered 631 units, edging down 0.9% or just six sales from the record first quarter set last year. This was due to a somewhat slower January this year, which in turn may have been the result of a scarcity of new listings in that month.
The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford and part of Grey Highlands rose 21.3% on a year-over-year basis to 205 units in March 2017. This was the first March to log more than 200 sales. Year-to-date home sales in the Western Region numbered 426 units, edging up 0.5% from this time last year.
Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, and the Townships of Tay and Tiny and part of Georgian Bay Township, totaled 93 units in March. This was up 6.9% from one year earlier. Year-to-date home sales in the Eastern Region numbered 205 units, down 3.8% from this time last year.
The number of new residential listings in March 2017 was 435 units, down 11.6% from a year earlier.
Overall supply stands at record lows. There were just 451 active residential listings on the Association’s MLS® System at the end of March 2017, down 52.1% from year-ago levels.
There were just 1.5 months of inventory at the end of March, down from 3.7 months recorded at the end of March 2016 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 March was $123.5 million, rising 47.5% per cent from March 2016. This was a record for the month and the first March to post more than $100 million.
Sales of all types of properties numbered 405 units in March, jumping 40.1% compared to the same month in 2016. The total value of all properties sold in March 2017 was $154.2 million, up 59.1% from March 2016.
The Southern Georgian Bay Association of REALTORS® geographical area served includes the Towns of Midland and Penetanguishene, the Townships of Tay, Tiny and part of Georgian Bay Township; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains and portions of the Municipality of Meaford and Grey Highlands.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_gallery interval=”3″ images=”291178,291181,291183,291184,291186″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text]Residential (Single Family) March 2017 by Area
Clearview
- #Listings 19 – down – 34.5% (2016 –29) | Year to date listings down – 32.3%
- # Sales 15 –down – 28.6% (2016 – 21) | Year to date sales down – 2.4%
- 12 Month Average Price $519,478, up 35.9% (2016 –$382,135)
- Monthly Sales to Listing Ratio 79% | YTD 100%
Collingwood
- #Listings 42 – up 10.5% (2016 – 39) | Year to date listings down -10.8%
- # Sales 36 – up 100% (2016 – 18) | Year to date sales even at 61
- 12 Month Average Price $458,150, up 19.9% (2016 – $382,105)
- Monthly Sales to Listing Ratio 86% | YTD 74%
Grey Highlands
- #Listings 4 – down -63.6% (2016 – 11) | Year to date listings down – 57%
- # Sales 4 – no change (2016 – 4) | Year to date up 20%
- 12 Month Average Price $517,247, up 28.7% (2016 – $517,247)
- Monthly Sales to Listing Ratio 100% | YTD 133%
[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_column_text]The Blue Mountains
- #Listings 24 – down -7.7% (2016 – 26) | Year to date listings down -1.4%%
- # Sales 24 – up 60% (2016 – 15) | Year to date Sales up 37.8%
- 12 Month Average Price $687,079, up 6.4% (2016 – $645,806)
- Monthly Sales to Listing Ratio 100% | YTD 72%
Municipality of Meaford
- #Listings 17 – down – 55% (2016 – 38) | Year to date listings down – 24.5%
- # Sales 12 – up 20% (2016 – 10) | Year to date sales up 35.3%
- 12 Month Average Price $360,800, up 15.2% (2016 – $313,198)
- Monthly Sales to Listing Ratio 71% | YTD 57%
Wasaga Beach
- #Listings 69 – down -42.8% (2016 – 80) | Year to date listings down -13.7%
- # Sales 49 – up %2 (2016– 48) | Year to date sales down -10.6%
- 12 Month Average Price $367,517, up 16.4% (2016 – $315,754)
- Monthly Sales to Listing Ratio 71% | YTD 81%
[/vc_column_text][/vc_column][/vc_row]
