Sometimes the numbers tell you all you need to know.
Year-to-date sales volume in Southern Georgian Bay reached a record high of $ 2,195,714,406, according to Royal LePage’s North Rentals latest market report. That’s a sizable 27% increase from the 2020 figure of just over $ 1.7 billion. And that’s only part of the story: Units and new registrations are down 3% from a year ago.
Passing the $ 2 billion mark is an important step. Keep in mind: so far, 2020 held the annual record. These figures do not yet include data for December 2021; the last month of the year could hold other surprises.
The record sales volume for November was $ 163,611,908, up 3% from the same month in 2020, which was the highest of last year. The number of units may have declined by 17 percent, but new listings were up four percent from the same period last year.
So where was the average selling price last month? It stood at $ 876,183, up 31% from last year’s figure of $ 670,486. Homes also sell faster, spending an average of 21 days on the market, compared to 24.
The demand for registrations is always greater than the supply. This has been the story of 2021 and clearly it is a continuing story. There is currently only one month of inventory and it remains a strong sellers market.
Unit sales for 2021 are up from 2020 in five categories and down in two. Year-to-date sales increased the most in the $ 2M + category, followed closely by $ 800,000 to $ 999,000 and $ 1M to $ 1.499M.
When looking at sales by type of property, condominiums lead the way. Dollar sales are up 58% from 2020, unit sales are up 26%, and the average condo selling price is up 25%, now standing at $ 563,822. Next came sales of single-family homes, which had an average selling price of $ 966,450, followed by townhouses at $ 708,781.
With strong demand across the region and prices continuing to rise, it will indeed be interesting to see the numbers for December and how the end of the year unfolds. Before you know it, it will be a new year and a new beginning. We will definitely all be watching to see what 2022 has in store for us.
North Locations’ REAL ESTATE AGENTS are the experts in luxury real estate properties throughout South Georgian Bay, with offices in Collingwood, Thornbury, Creemore, Craigleith, Meaford, Wasaga Beach and Stayner. See their ads.