The Southern Georgian Bay real estate market continued at a robust pace with November 2019 sales surpassing the same period last year. While the number of residential sales was up, so too were the number of new listings.
Year-to-date, there were 10.8% more sales in the region encompassing Blue Mountain, Collingwood, Clearview, Grey Highlands, Meaford, and Wasaga Beach. There were also 14% more listings. Currently, this means there is a 4-month inventory of active residential properties for sale which is a little better than 2016 when we saw only 2.9 months available but it is still well below the traditional 8-12 months of inventory we experienced from 2010-2014. Currently, the supply is tightest in Collingwood with just 2.9 months of inventory available. This means we have seen a return to multiple offers and especially in properties priced below $450,000.
The average residential sale price in the region is up by 9.5% year-to-date and is currently $546,085. There are significant differences in supply, demand, and prices though by area. For example, the average residential sale price is lowest in Wasaga Beach at $446,321 and highest in the Town of Blue Mountains at $714,066. Amazing what a difference a 20-minute drive can make.
You can view a breakdown of all statistics, by each community in this November 2019 Western Region Market Report
This interactive, real-time updated chart, shows the MEDIAN (not average) sale price in 4 of our areas over a 12 month period. You can scroll over to find specific points in time. Isn’t that fun?
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg