Home sales in the South Georgian Bay region are not showing signs of slowing down.
Records continue to be broken and February’s sales numbers and dollar value were no exception, according to the Southern Georgian Bay Association of Realtors (SGBAR).
The value of home sales in South Georgian Bay for February 2021 totalled $288.3 million, which is a 54 per cent increase from February 2020. There were 365 homes sold in the region, which is up 14 per cent from last year.
The market continues to be “tight” according to Matthew Lidbetter, president of SGBAR
“A small boost in new listings helped sales climb even further, raising them to the highest February on record," said Lidbetter in a news release from SGBAR. "An influx of new listings may have pulled the market back from the tightest conditions on record, but we are still very much in seller’s territory.”
The western half of the region – including Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford, and Grey Highlands – saw 198 homes sold last month, and 326 sold during the first two months of the year. Sales in this part of the region are up by about 23 to 27 per cent compared to last year.
The eastern half of the region is not far behind. There were 167 homes sold across Midland, Penetanguishene, Tay, Tiny, Severn, and Georgian Bay Townships in February, and 275 homes sold in those communities in the last two months. This is up by about 1.5 to 1.8 per cent over last year.
The benchmark price for a single-family home in the South Georgian Bay region is now about $579,500 for a single-family home. A townhouse/row unit in the area sells for around $452,600 and an apartment is about $370,300.