The housing market in Southern Georgian Bay is skyrocketing with records set, broken, and left in the dust every month.
In April 2021, there were 616 homes sold in the region, which is a whopping 284 per cent increase over the number of sales in April 2020.
But it pales in comparison to the 482 per cent increase in dollar value of home sales between the two months. In April 2021, the dollar value of homes sales in Southern Georgian Bay totalled $513.4 million.
However, April 2020 was a low point for sales last year as one of the first months of the global COVID-19 pandemic. Sales picked up by June 2020 and they have been on the rise ever since.
These figures were compiled by the Southern Georgian Bay Association of Realtors for their monthly stats update.
Association president, Matthew Lidbetter, said this is the first time April home sales have reached 600.
“A sustained influx of new listings has been spurring higher levels of sales, but almost all of that supply is getting eaten up,” said Lidbetter in a news release. “Overall inventories have stopped declining but are still trending at record lows, keeping the market in some of the tightest conditions on record.”
There were 560 active listings on the market at the end of April 2021, which is down by 58.4 per cent compared to April 2020.
The units sold in April 2021 were nearly evenly distributed between the western and eastern half of the region.
In the west, which includes Collingwood, Clearview, Wasaga Beach, The Blue Mountains, Meaford, and Grey Highlands, there were 321 units sold in April 2021, according to the realtor’s association. It’s a new sales record and an increase of 339 per cent compared to April 2020.
In the east, which includes Midland, Penetanguishene, Tay, Tiny, Severn and Georgian Bay Township, there were 295 homes sold in April 2021. Another record at a 192 per cent increase over April 2020 sales.
From January through April 2021, the MLS system recorded 1,866 home sales in Southern Georgian Bay, which is an increase of 82 per cent over the same four months in 2020.
