The market continues to move quickly in Southern Georgian Bay, and it is absolutely still a strong sellers’ market. While January was typically one of the slower months in real estate, that’s certainly not the case anymore as buyers continue to seek out housing in the depth of winter, no longer content to sit back and wait until Spring.
The month saw a record volume of $149,730,326, as well as record units of 132 listings sold. The number of listings was up 12% from a year ago. Volume sales were up 41% compared to January 2021.
Unit sales were up in four price segments throughout the region: in the $800K-$999K, $1M-$1.499M, $1.5M-$1.999M and $2M+ ranges. They were also down in three: the under $300K, $300K-$499K and $500K-$799K ranges all saw decreases in unit sales. Sales in the $2M+ category were up 500%.
Records seem to be being broken continually.
The average sale price for Southern Georgian Bay hit another high at $1,134,321. That figure is up an incredible 37% since just last January alone. The average days-on-market was also down, by 4, to 25.
The demand for listings continues to be greater than the supply, according to the latest in-depth market report from Royal LePage’s Locations North. The Southern Georgian Bay market had a 100% sale/list price ratio last month and there is now just one month of inventory.
Sales are up for all property types. The average sale price for single-family homes in January was $1,275,876. That figure was $602,962 for condominiums and $919,208 for townhouses. There have obviously been huge gains, both generally and relative to inflation, in the average sale prices in Southern Georgian Bay since 2010.
The REALTORS® at Locations North are the experts in luxury real estate properties throughout South Georgian Bay, with offices in Collingwood, Thornbury, Creemore, Craigleith, Meaford, Wasaga Beach and Stayner. View their listings.