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Value of home sales in region breaks record by $30 million

Home sales in South Georgian Bay area last months have realtors optimistic about 2020
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Erika Engel/Collingwood Today

Local Realtors are predicting a strong 2020 based on the first month of sales.

A news release issued by the South Georgian Bay Association of Realtors (SGBAR), states January 2020 was just one sale shy of breaking the all-time January record set in 2016.

Mike Scholte, president SGBAR said 2020 is off to a great start for the west and east regions of South Georgian Bay.

“Strengthening sales in an environment of still-low supply suggests 2020 could be another year of strong price growth,” said Scholte in the news release.

Though January’s 182 home sales didn’t break the all-time number of sales record, the value of those sales did.

According to SGBAR, the dollar value of home sales in January 2020 was $102.1 million, a new record for the month by a margin of more than $30 million.

As has been the trend, most of the home sales occurred in the west part of the region (Wasaga Beach, Clearview, Collingwood, The Blue Mountains, Meaford, and Grey Highlands) with 101 units sold in those municipalities in 2020.

In the east part of the region, including Midland, Penetanguishene, Tay, Tiny, Severn, and Georgian Bay Township, there were 81 units sold, which is a 69 per cent increase over January 2019.

Listings are up as well with 335 new residential listings hitting the market in January 2020, which is up 14.7 per cent compared to last year.

According to SGBAR, the overall supply is still historically low, with 4.3 months of inventory remaining in January 2020.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.


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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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