Southern Georgian Bay Association of REALTORS®
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Home sales and new listings down in March
Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in below year-ago levels in March 2014.
Home sales numbered 177 units in March, down 15 per cent from the same month last year.
The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western District which includes Wasaga Beach, Collingwood, Clearview Township, The Blue Mountains, Municipality of Meaford and Grey Highlands fell nine per cent on a year-over-year basis to 134 units.
Home sales in the Eastern District encompassing the Towns of Midland and Penetanguishene, the surrounding communities of Elmvale, Port McNicoll, Victoria Harbour, Coldwater, Port Severn, Honey Harbour and Tiny, Tay, Springwater, Oro-Medonte, Severn and Georgian Bay Townships totaled 43 units in March. This was a decrease of 30 per cent from last March.
“In keeping with the trend we saw in February, sales in Western District continued to improve in March, and while they remain below last year’s very strong levels they have climbed back in line with historical averages at this point,” said Wayne Cornfield, President of the Southern Georgian Bay Association of REALTORS®. “Activity in the Eastern District has been following the opposite path. As opposed to starting off the year slowly and improving, sales in Midland and surrounding communities started 2014 in good shape but activity has now slowed. Looking at these two opposing trends together explains why we haven’t seen much movement in demand at the overall Association level since the beginning of the year.”
The average price of all homes sold in March was $284,767, up four per cent from the same month in 2013.
The average price of homes sold in the Western District was $305,039. This was an increase of five per cent from a year earlier. The average price for Eastern District home sales was $221,595 in March 2014. This was a decrease of four per cent from March 2013.
New residential listings numbered 499 units in March 2014, down 30 per cent from a year earlier. New listings posted large declines in March in both the Eastern and Western Districts.
There were 1,719 active residential listings on the Association’s MLS® System at the end of March 2014, down 17 per cent from year-ago levels.
There were 9.7 months of inventory at the end of March, down from 10 months at the end of March 2013 but slightly above the long-run average for this time of year.
The value of all residential transactions in March was $50.4 million, down 12 per cent from a year earlier.
Sales of all types of properties numbered 200 units in March, a decline of 16 per cent compared to the same month in 2013. The total value of all properties sold in March 2014 was $58.4 million, down eight per cent from last March.
Encompassing several communities along the shores of southern Georgian Bay, approximately 1½ to 2 hours from the GTA, the area is one of Canada’s premier four season recreational playgrounds.
The Southern Georgian Bay Association of REALTORS® represents close to 500 REALTORS® registered with its member offices. The geographical area served by the Association includes the Towns of Midland and Penetanguishene, the surrounding communities of Elmvale, Port McNicoll, Victoria Harbour, Coldwater, Port Severn, Honey Harbour and Tiny, Tay, Springwater, Oro-Medonte, Severn and Georgian Bay Townships, Wasaga Beach, Collingwood, Clearview Township, The Blue Mountains, Municipality of Meaford and Grey Highlands.
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The information contained in this report has been prepared by
The Canadian Real Estate Association, in co-operation with the Southern Georgian Bay Association of REALTORS®.
The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed.
In providing this information, neither The Canadian Real Estate Association nor
the Southern Georgian Bay Association of REALTORS® assumes any responsibility or liability.
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