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Sunday, March 11, 2018

Home Sales Drop in Southern Georgian Bay

Regional | by Kevin Bernard  

Down nearly 50% from record levels one year ago

Home sales took a tumble in the Southern Georgian Bay region in February.

Figures released by the local Real Estate board show 123 homes were sold in the month, down nearly 44 percent from the same month last year.

Year to date sales have totaled 260 units, which is down 27 percent from this time last year.

The Southern Georgian Bay region is made up of  two distinctive markets.

Home sales in the Western Region, which includes Wasaga Beach, Collingwood, The Blue Mountains, and parts of the Municipality of Meaford and Grey Highlands, fell 46.5% compared to February of 2017.

Meanwhile, home sales in the Eastern Region, which includes Midland and Penetanguishene, totalled 47 units in February which is 39 percent below February of last year.

Overall supply remains near record lows.

There were just 591 active residential listings in the region at the end of February 2018, up just 3.5% from year-ago levels.

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