South Georgian Bay home sales are down from last year’s June record, but remain well above average

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Residential sales recorded through the MLS system for the Southern Georgian Bay region totaled 564 units in June 2021. This is a decrease of 12.7% from June 2020.

Home sales were 11.7% above the five-year average and 15.8% above the 10-year average for the month of June.

Year-to-date home sales totaled a record 3,001 units in the first six months of the year. This figure is up sharply by 50.9% compared to the same period in 2020.

The Southern Georgian Bay region has two distinct markets.

Home sales in the Western region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford and Gray Highlands, stood at 287 units in June 2021. These were a decrease of 8.9% compared to June 2020.

Home sales in the Western region were 15.9% above the five-year average and 19% above the 10-year average for the month of June.

Year-to-date home sales in the Western region have reached a record 1,544 units in the first six months of the year. This is a sharp increase of 62.9% compared to the same period in 2020.

Meanwhile, home sales in the Eastern Region, encompassing the towns of Midland and Penetanguishene, Townships of Tay and Tiny, Severn and Townships of Georgian Bay, numbered 277 units as of June 2021. It’s was a sharp drop of 16.3% from June 2020.

Home sales in the Eastern region were 7.6% above the five-year average and 12.6% above the 10-year average for the month of June.

Year-to-date home sales in the Eastern region have hit a record 1,457 units in the first six months of the year. This figure is up 40% sharply compared to the same period in 2020.

“Home sales in the Eastern and Western Districts were down from last year’s levels, but still recorded the third best June in history. On the sales side, the market can be described as “cooling” from red to warm, ”said Matthew Lidbetter, president of the Southern Georgian Bay Association of Realtors. “On the supply side, the story remains more or less the same: not enough new offers arriving on the market to meet the sustained pace of demand. Overall supply levels are trending downward and as a result, competition among buyers for this lack of available inventory continues to keep the market tight. “

The number of new listings was down sharply by 10.9% compared to June 2020. There were 803 new residential listings in June 2021. This is the lowest number of new listings added in June of this year. over a decade.

New registrations were 9.5% below the five-year average and 9.5% below the 10-year average for the month of June.

Active residential listings were 688 units on the market at the end of June, down 48% from the end of June 2020. Active listings have not been so low in June for more than three decades.

Active registrations were 50.8% below the five-year average and 69.2% below the ten-year average for the month of June.

Inventory months were 1.2 at the end of June 2021, down from the two months recorded at the end of June 2020 and below the long-term average of five months for this period of the year. The number of months of inventory is the number of months it would take to sell current inventory at the current rate of sales activity.

The dollar value of all home sales in June 2021 was $ 485.1 million, up 19.3% from the same month in 2020. It was also a new record for the month of June.

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