Sometimes the numbers tell you all you need to know.
The year-to-date sales volume in Southern Georgian Bay hit a record $2,195,714,406, according to the latest market report from Royal LePage’s Locations North. That’s up a sizeable 27 per cent since 2020’s figure of just over $1.7B. And that’s just part of the story—both units and new listings were down three per cent from one year ago.
Passing that $2B mark is a huge milestone. Keep in mind: until now, 2020 held the annual record. These figures don’t yet include data from December 2021; the last month of the year could hold still more surprises in store.
November’s record sales volume was $163,611,908, up three per cent from the same month in 2020, which was last year’s prior high. The number of units may have been down 17 per cent but new listings saw an increase of four per cent from this time last year.
So where did the average sale price stand, as of last month? It was $876,183, up an amazing 31 per cent from last year’s figure of $670,486. Homes are selling faster too, spending an average of 21 days on the market, down from 24.
The demand for listings is still greater than the supply. That’s been the story of 2021 and clearly, it’s a continuing one. There is currently just one month of inventory and it remains a strong sellers’ market.
2021 unit sales are up from 2020 in five categories and down in two. Year-to-date sales increased the most in the $2M+ category, followed closely by $800K to $999K and $1M to $1.499M.
When looking at sales by property type, condominiums are leading the way. Dollar sales are up a staggering 58 per cent from 2020, unit sales are up 26 per cent and the average sale price for condos is up 25 per cent, now sitting at $563,822. Next were sales of single-family homes, which had an average sale price of $966,450, followed by townhouses at $708,781.
With demand strong across the region and prices continuing to rise, it will be interesting indeed to see December’s numbers and how the end of the year plays out. Before you know it, it will be a new year and a fresh start. Certainly we’ll all be watching to see what 2022 has in store for us.
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.