The demand for real estate is still strong in South Georgian Bay, according to the September sales stats and the area realtor's association.
Last month, home sales totalled $338.2 million for the South Georgian Bay region, with 390 units sold. The number of units sold declined by nearly 25 per cent compared to September 2020, but the dollar value of sales dipped by just 1.7 per cent compared to the same month last year.
These figures were reported today by the Southern Georgian Bay Association of Realtors, which has now merged with Lakelands Association of Realtors. Only South Georgian Bay area stats have been included in this report.
Matthew Lidbetter, form president of the Southern Georgian Bay Association of Realtors said home sales, though declining from last year's records, were still the fourth-highest ever for the month of September in the region.
"We're still facing a continuous decline in overall inventories as demand remains very strong for properties in the region without any accompanying surge in new listings, and this continues to put upward pressure on home prices," said Lidbetter in a news release.
There were 529 active listings on the market in the region at the end of September, which is the lowest for the month in three decades.
Year-to-date, home sales are still up slightly with 3,682 units sold from Jan. to Sept. in 2021, up by 9.4 per cent compared to the same period in 2021.
In the western portion of the region, including Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford and Grey Highlands, there were 236 units sold in September, down by 26.7 per cent compared to Sept. 2020.
Sales in the west are still 2.5 per cent above the five-year average and 8.8 per cent above the 10-year average for September.
In the eastern portion, including Midland, Penetanguishene, Tay, Tiny, Severn, and Georgian Bay Township, there were 154 units sold in Sept. 2021, which is down by 21 per cent compared to Sept. 2020.
Year-to-date, home sales in the eastern half of the region were 6.6 per cent above the five-year average, and 5.8 per cent above the 10-year average for September.