The fourth quarter of 2021 ended much the way previous quarters did, with record volume sales and average prices way, way up.
Last year saw a record annual sales volume of $2,326,883,555. That’s up 26% from the year prior, even with the number of units and listings down 3%.
It certainly helps that the Q4 sales volume held strong. The average annual sale price hit a record for the area of $880,728, according to the latest market report from Royal LePage’s Locations North. That figure is up an incredible 30%—it was $679,602 just one year ago. The average days on market was just 21.
As was the story for all of 2021, the demand for listings far exceeded the supply and it remains a strong seller’s market in early 2022. In fact, the market in Southern Georgian Bay had a 100% sale/list price ratio in the month of December.
Sales have been greatest in the following categories: up 100% for properties $2M+, up 81% for those $800K-$999K, up 79% for homes $1M-$1.499M and up 54% for those listed at $1.5M-$1.999M.
If it felt as though you were continually seeing headlines about records being broken, you were right. In terms of sales volume, 2021 saw an amazing eight record months and four runners-up. Last year was the region’s first $2B year and it more than doubled the previous record, which had been set in 2019.
All segments of the market have seen growth, from single-family homes to condominiums and townhouses. The average sale price of single-family homes is up 30% from 2020 at $972,499. That same figure for condos is up 24% at $563,776. Townhouses saw the greatest increase in average sale price by far, up an astounding 51% to $716,233.
The market has seen huge gains, both generally and relative to inflation. The average sale price for single-family homes in Southern Georgian Bay for the month of December alone surpassed the million-dollar mark, at $1,082,599.
Clearly the regional luxury home market remains strong. Needless to say, it will be interesting to see what 2022 holds in store for all of us. Sellers continue to have the advantage right now and with growing interest and demand in the Southern Georgian Bay market, it looks like the year ahead will be another busy one indeed.
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.