2nd Quarter Real Estate Market Report 2018

When spring finally arrived in Southern Georgian Bay, the number of listings swiftly rose along with the temperature. While listings traditionally increase in the spring, And are up 24.7% from just 2 months ago, there was still very little choice available due to low inventory. Sales in niche markets continue to be competitive as the number of listings continues to fall behind the demand. As PROPERTY LISTINGS fell to HISTORIC LOWS, the average SALE price of property in Southern Georgian Bay CONTINUED ON AN UPWARD TRAJECTORY, YEAR OVER YEAR. Indeed, while listings were FAR fewer, as much as 11.3% less compared to June 2017 the PRICES of properties remained, not only competitive, but on the rise. Looking back at the 2nd quarter of 2018: The average price of property SOLD in June INCREASED by a RECORD 5.7% year over year. As well, the year-to-date average price was up 2.1%. Unfortunately for Buyers, the NUMBER of properties available continued to decline year over year which favored a SELLERS’ MARKET as evidenced by the ratio of sales to listings. The ratio of sales to properties listed to date in 2018 was statistically identical to the same time period in 2017 and much higher than years prior to 2016. Indeed, 54.5% of properties listed in June in our specific area were sold. LISTINGS for Buyers continued to be limited throughout the 2nd quarter. Properties were on the market for less time and for competitive prices. The number of listings continued to edge downward and year-over-year was down 11.3%. Needless to say, as a result, the number of sales was down 23.7%. HOWEVER, the average sale price of $493,294 increased by 5.7% from June of 2017. In fact, if the current rate of sales activity continues, the entire inventory would sell in less than 3.6 months in the Western Region of Southern Georgian Bay. We have Buyers, but we NEED LISTINGS. This is reflective of the strong market which continues to attract ALL buyers. While the market shows some softening in other areas, Southern Georgian Bay is still in an upswing. Has the market softened with new mortgage rules, higher interest rates and steeper prices? While it seems the market has softened a minimal amount And with less properties sold, the prices are continuing to rise. Investment in real estate in the Southern Georgian Bay Area is well worth considering as prices continue to climb. Do you have a property to sell or are you interested in buying? For top-notch service and value, give Clairwood Real Estate a call at 705-445-7085.

Bookmark and Share
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
This website is operated by a brokerage or sales person who is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.

Clairwood Real Estate Corporation, Brokerage
306-10 Keith Ave.
Collingwood ON  L9Y0W5
(705) 445-7085
(877) 445-7085