Southern Georgian Bay- Market Update

SCARCITY FUELS BUYER FRENZY

January 2021 was another record breaking month in the Southern Georgian Bay Region.  Unprecedented low inventory coupled with soaring demand for our region has resulted in double digit price growth.  Multiple offers and over asking price outcomes have become the norm with Sellers reaping the rewards while Buyers fight to establish a foothold in our region.  

There are a number of factors that continue to fuel our strong market conditions including record low interest rates, increased demand for weekend properties, remote working feasibility, buyers exiting the city etc.  It would take months for our market to return to balance which can be caused by a decrease in buyer demand or an increase in the supply of homes available for sale, neither of which we predict will change much over the coming months. 

Buying and Selling in a fast paced market comes with a unique set of challenges and rewards.  It is more important than ever to have a trusted advisor that has a deep understanding of our market and is experienced with navigating the current conditions.  

Across the Region the Statistics for February Show:

  • The number of properties for sale is down significantly as compared to the previous year.
  • The demand for homes is up significantly from last year.
  • There are double digit price gains in the average sale price in all markets in our area
  • Homes are selling faster

Blue Mountains

Average Price: $1,000,429

In January we saw +38 new listings come to market bringing the total amount of active listings for the month to 45, a decrease of -72% compared to the same month last year.  There were 34 sales recorded in January with successful offers averaging +4% over the asking price.  The average days on market for homes listed for sale was 17 days.  Months of inventory of homes available for sale was 1.3 months (anything less than 4 months of supply is considered a Sellers market).

Collingwood

Average Price: $809,048

In January we saw +33 new listings come to market bringing the total amount of active listings for the month to 41, a decrease of -66% compared to the same month last year.  There were 21 sales recorded in January with successful offers averaging +6% over the asking price.  The average days on market for homes listed for sale was 8 days.  Months of inventory of homes available for sale was 2 months (anything less than 4 months of supply is considered a Sellers market).



Meaford

Average Price: $584,340

In January we saw +12 new listings come to market bringing the total amount of active listings for the month to 20, a decrease of -39% compared to the same month last year.  There were 6 sales recorded in January with successful offers averaging +2% over the asking price.  The median days on market for homes listed for sale was 29 days.  Months of inventory of homes available for sale was 3.3 months (anything less than 4 months of supply is considered a Sellers market).

Grey Highlands

Average Price: $768,848

In January we saw +12 new listings come to market bringing the total amount of active listings for the month to 13, a decrease of -70% compared to the same month last year.  There were 12 sales recorded in January with successful offers averaging +8% over the asking price.  The median days on market for homes listed for sale was 19 days.  Months of inventory of homes available for sale was 1.1 months (anything less than 4 months of supply is considered a Sellers market).



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