Monthly Market Report
Included herewith is a compilation of market stats as reported to SGBAR at the end of May 2021 and published by RE/MAX By The Bay Brokerage.
ALL RESIDENTIAL YEAR-TO-DATE
Western Region of Southern Georgian Bay
Sales Activity up + 98.7%
Sales Volume up + 186.3%
Average Price up + 44.1%
Sales Activity up + 81.0%
Sales Volume up + 166.0%
Average Price up + 47.0%
Sales Activity up + 108.6%
Sales Volume up + 206.1%
Average Price up + 46.8%
Town of Blue Mountains:
Sales Activity up + 115.0%
Sales Volume up + 182.9%
Average Price up + 31.6%
Sales Activity up + 144.8%
Sales Volume up + 238.8%
Average Price up + 38.4%
The Ontario Real Estate Association (OREA) continues to provide Realtors with safe and responsible guidance during the Ontario State of Emergency. Real estate remains an essential service to ensure Ontarian's shelter. With the use of virtual tools in the real estate industry and the implementation of personal protection equipment and safety protocols, transactions continue to transpire.
All information provided below is in reference to residential single-family detached freehold ownership homes sold in Wasaga Beach and Collingwood, by all brokerages and Realtors as reported to the Southern Georgian Bay Association of Realtors (SGBAR).
Wasaga Beach: The 12-month average sales price for a residential-detached freehold ownership home sold in Wasaga Beach is currently $680,207. The value is up +30.59% over May 2020 ($520,877). An increase of $159,330 in one year's time.
Month over month, the 12-month average sales price has recently increased at approximately $20,000 per month from February 2021 to May 2021. The month of May 2021 increased by $21,014 or +3.12% in only one month's time (April $659,613 to May $680,207). The 5-month average is 2.69% per month in 2021 at this time.
The average number of days on the market for the homes sold in May 2021 was 14 days in comparison to an average day on the market of 39 in May 2020.
Year to date the amount of residential-detached freehold homes sold in Wasaga Beach year over year is up +107.2% at the end of May 2021 (259) over the end of May 2020 (125). The month of May completed 54 sales in 2021, down from a total of 72 sales in April 2021 and 74 sales in March 2021.
The average list-to-sell ratio for homes sold in March was 105.71% of the asking price. This the sixth month in a row to confirm an average sales price over 100% of the asking price in Wasaga Beach. April and May were both 105% and slightly down from 107% in February and March.
At this time the market only has approximately 1.24 months worth of listing inventory entering June 2021. Although increasing, this number remains low, confirming a Seller’s market in a number of popular price ranges.
The highest amount of residential-detached freehold ownership homes sold year to date is within the price range of $700,000 to $800,000 with an impressive 57 sales completed. Closely followed by 52 sales $600,000 to $700,000 and a total of 33 sales between $500,000 and $600,000.
Collingwood: The 12-month average sale price for a residential-detached freehold ownership home sold in Collingwood was $871,414 in May 2021. This value is up a total of +38.76% over this time last year ($627,997 in May 2020). This is an impressive increase of $243,417 in only one year's time. A number that is influenced by both older dwellings and now newer construction homes being built and entering the resale market.
The average number of days on the market was 14 days for the homes sold within the month of May 2021. This is a few days higher than both March and April 2021 with an average of 11 days on the market. And significantly lower than 65 days on market in May 2020 during the early months of provincial COVID-19 restrictions here in Ontario.
The average list-to-sell ratio is 103,97% of the asking price entering June 2021. This figure is up from the 2020 year average of 98.95% determining less price negotiation taking place due to current market conditions. This is the seventh consecutive month with an average sales price over 100% of the asking price in Collingwood and the highest percentage to date.
A total of 31 residential-detached freehold homes were sold in May 2021. This is down slightly from 37 sales in both March and April 2021. Comparatively, this is also up from only 13 sales in May 2020, and down from 37 in May 2019.
At this time the Collingwood market only has approximately one (1) month's worth of listing inventory entering June 2021. There was a total of 31 active listings on June 1st, 2021, and a total of 31 sales completed in May. This number remains low, confirming a Seller’s market in a number of popular price ranges.
Marketshare: Based on the offices geographically located within Wasaga Beach, RE/MAX BY THE BAY Brokerage continues to dominate the local real estate sales activity and volume with an impressive 68.0% market share based on a “year to date” total production at the end of May 2021. Our next singular competitor in town would need to increase their business by almost 328% to match RE/MAX’s production.