Home sales in the region declined more than 50 per cent in April 2020 compared to the same month last year, but overall, 2020 sales are still sticking close to last year’s totals.
In the Southern Georgian Bay Region, there were 126 homes sold in April 2020, which is a decline of 58.3 per cent from the number of units sold in April 2019, according to the Southern Georgian Bay Association of Realtors.
The dollar value of all residential transactions reached $60.3 million in the region last month, which is down by 60 per cent compared to April 2019.
Year-to-date, however, there have been 785 units sold in the region, which is about six per cent below the figures for the first four months of April 2019.
Association president Mike Scholte, indicated there is still hope for 2020 numbers to bounce back.
“Demand and supply both stepped out of the housing market in April as we saw the first full month of physical distancing measures pass by,” said Scholte in a news release. “Realtors continue to adjust the way we do business to adhere to the mandates set in place, and we are hopeful for increased market activity come late-spring as demand grows and restrictions ease.”
The west end of the region saw the steepest decline last month at 64.9 per cent compared to April 2019, but it is also the busier half of the region. The west includes Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford, and Grey Highlands.
Year to date, the number of sales is down about 15 per cent in the west end of the region compared to the same four months last year.
In the east (Midland, Penetanguishene, Tay, Tiny, Severn, and Georgian Bay Township), the number of units sold (60) is down by 47 per cent from April 2019.
However, year-to-date, the eastern region is still seeing more sales than 2019, with an increase of about 9.2 per cent.
Not only is the region seeing a decrease in buying, but there are fewer houses being listed for sale.
According to the local Realtor’s association, there were just 321 new listings in April 2020, which is a decline of 43 per cent compared to last year, and a 30-year low for the month of April.