[vc_row][vc_column width=”1/2″][vc_column_text]Southern Georgian Bay home sales set September 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 September 2016. Home sales numbered 349 units in September 2016, up 3.9 per cent from a year earlier. This was a record for the month of September.
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 edged down 2.4 per cent on a year-over-year basis to 203 units in September 2016.
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 146 units in September. This was a new September record, up 14.1 per cent from the previous record set one year earlier. On a year-to-date basis home sales totalled 3,033 units over the first nine months of the year, rising 23.8 per cent from the same period in 2015. This is currently on course to set a new annual record. Year-to-date sales in the Western Region were up 17.3 per cent from 2015. Activity over the first nine months of 2016 recorded a gain of 36.8 per cent year-over-year in the Eastern Region. “While sales appear to be coming off the boil a bit heading into the last three months of the year, likely because there are not enough listings out there to satisfy demand, activity in both the Western and Eastern Districts will nevertheless set new annual records in 2016,” said Kevin Woolham, President of the Southern Georgian Bay Association of REALTORS®. “In fact, as of the year-to-date September, sales in the Eastern District had already set a new annual record.” The number of new residential listings in September 2016 was 394 units, down 16 per cent from a year earlier. The recent downturn in new supply stems from the Western District. Overall supply remains at the lowest levels in more than a decade.[/vc_column_text][vc_column_text]
- There were 791 active residential listings on the Association’s MLS® System at the end of September 2016, down 48.2 per cent from year-ago levels.
- There was 2.3 months of inventory at the end of September, down from 4.5 months recorded at the end of September 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 September was $119 million. This was the highest September figure on record.
- Sales of all types of properties numbered 410 units in September, an increase of 4.1 per cent compared to the same month in 2015.
- The total value of all properties sold in September 2016 was $139.8 million, up 14 per cent from September 2015.
- September 2016 real estate sales, including residential and non-residential numbered 243, a decrease of – 2% on a year-over-year basis.
- Total sales dollar volume for all real estate sales in the Western Region for the month of September was $94,340,667, up 18% over the same period last year, while sales dollar volume is up 32% year-to-date.
Residential Real Estate Western Region
- Residential Sales numbered 203, a – 2.4% decrease over the same period in 2015.
- Residential listings – 233 new listings for the month of September, down – 25.1%, and total number of listings in the system – 454, down by – 48.4%.
Local Market Stats
- Clearview: 10 units sold – a decrease of – 41.2%2 over 17 units sold inSeptember 2015. The 12 month average price increased 28.1% to $469,628. Year to date sales volume (number of units sold) is up 28.2%.
- Collingwood: 32 units sold – a decrease of – 11.2% over 36 units sold inSeptember 2015. The 12 month average price increased 16% to $423,538. Year to date sales volume is up 10.8%
- The Blue Mountains: 16 units sold – a decrease of – 38.5% over 16 units sold inSeptember 2015. The 12 month average price increased 1.6% to $616,990. Year to date sales volume is down -1.85%.
- Municipality of Meaford: 17 units sold – an increase of 136.4% over 10 units soldSeptember 2015. The 12 month average price increased 8.6% to $341,756. Year to date sales volume is up 13.9%.
- Wasaga Beach: 58 units sold – a decrease of – 6.4% of 62 units sold over September 2015. The 12 month average price increased 10.1% to $339,985. Year to date sales volume is up 23.25%
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