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Georgian Bay real estate market making a comeback

Surge in sales as 'buyers making up for lost time,' says Realtor
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Home sales are making a comeback in the region with June 2020 sales reported near double the same month last year. 

The Southern Georgian Bay Association of Realtors reported there were 494 units sold last month, which is an increase of 42 per cent over June 2019. 

Year-to-date the numbers are slightly lower than in 2019 with 1,501 units sold the first six months of 2020, which is about 3.2 per cent lower than in 2019. 

The association reported a 60 per cent decline in sales in March and a 38.5 per cent decline in sales in May. For the first five months of the year, sales were down 16.2 per cent year-to-date compared to 2019. 

Mike Scholte, president of the Southern Georgian Bay Association of Realtors noted the increase in sales and listings is significant. 

"Sales activity surged in June with buyers making up for lost time in the spring market," said Scholte in a press release. "New listings increased as well, although not to the same extent as sales, this has led to very tight market conditions." 

There were 674 new residential listings in June 2020 according to data compiled from MLS by the Southern Georgian Bay Association of Realtors. Year-over-year, listings are down by about 6.5 per cent, and the number of active residential listings left at the end of June (998) is down by 32.5 per cent compared to the end of June 2019. 

The western half of the region, which includes Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford, and Grey Highlands, saw the largest increase in sales with 281 units sold in June 2020. That's 53.6 per cent higher than the numbers from June 2019. 

Year-to-date sales for the western region are down by about 7.9 per cent over last year. 

In the eastern part of the region (Midland, Penetanguishene, Tay, Tiny, Severn, Georgian Bay Township) there were 213 units sold, which is an increase of 29.1 per cent over June 2019. 

Year-to-date, sales are up by 3.7 per cent over 2019 numbers. 

The homes sold in June 2020 in the region carried a total value of $302.4 million, which is 69.9 per cent higher than the value of homes sold in June 2019. 

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Erika Engel

About the Author: Erika Engel

Erika regularly covers all things news in Collingwood as a reporter and editor. She has 15 years of experience as a local journalist
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