Single unit sales are down slightly from June 2020, but dollar values are up and it’s still a record year
The local real estate market hasn’t broken any records this month and has actually declined from last year’s sales, but 2021 is still a record year for home sales in South Georgian Bay.
“The market can be described as a cooling from red to hot,” said Matthew Lidbetter, president of the Southern Georgian Bay Association of Realtors, in a press release.
Although the number of units sold in June 2021 was down 12.7% from June 2020, sales are still above the five- and ten-year average.
Year-to-date, home sales for the first six months of 2021 are up 50% from 2020, according to the Southern Georgian Bay Association of Realtors and MLS.
Last month, 563 homes were sold in the area for a total of $ 485.1 million. Although the number of home sales is down from June 2020, the value of homes sold last month increased 19% from June 2020, which is a record for June.
Lidbetter said last month was the third best June in history.
“On the supply side, the story remains much the same – not enough new supply in the market to meet the sustained pace of demand,” he said in the statement.
There were 803 new residential listings in the area in June 2021, and at the end of the month there were 688 active listings in Southern Georgian Bay, the lowest number for June in more than three decades. .
“Overall supply levels are trending down and therefore competition among buyers for this lack of available inventory continues to keep the market tight,” Lidbetter said.
Home sales in June were almost evenly split between the eastern and western halves of the region.
In the west (Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford and Gray Highlands), 287 homes were sold in June 2021, down 8.9% from June 2020.
In the east (Midland, Penetanguishene, Tay, Tiny, Severn and Georgian Bay), 277 homes were sold last month, down 16.3% from June 2020.