Home sales in the region are trending upward as the number of houses for sale also climbs.
Last month, the value of all homes sold in South Georgian Bay hit $179.5 million, which is a jump of 23.6 over 2019, and a new record for the month of October by a margin of more than $30 million.
That’s according to a press release from the Southern Georgian Bay Association of Realtors, which sends out monthly reports based on MLS data for the area.
“Overall home sales remain solid, particularly in the Western Region of the Association’s geographical coverage area, as buyers continue to take advantage of the higher numbers of new listings we’ve been seeing since the start of the summer,” said Stan Reljic, president of the Southern Georgian Bay Association of Realtors.
There were 330 units sold last month, which is an increase of 12. 6 per cent over October 2018. Of those, there were 208 units sold in the western region, including Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, Meaford, and Grey Highlands.
On a year-to-date basis, home sales in the Western Region numbered 1,764 units over the first 10 months of the year, up 11.2 per cent from the same period in 2018.
In the eastern part of the region, including Midland, Penetanguishene, Tay, Tiny, Severn, and Georgian Bay Township, there were 122 units sold in October, 2019, which is up 10 sales over October last year.
“The improvement in activity over the second half of this year is in line with the trend across much of Ontario, where sales have been on the rise following a tough couple of years in the
wake of the Ontario Fair Housing Plan and B-20 stress test,” said Reljic in the press release.
Part of the reason for the increase in sales is the increase in supply, with 527 new residential listings in October 2019, which is a 19.2 per cent increase year-over-year.
