Home sales in South Georgian Bay have set a new monthly record.
In January 2021, residential sales recorded through MLS for the region totaled 236 units, which is up 9.8% from January 2020 and was a new sales record for the month.
The Southern Georgian Bay Association of REALTORS says home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 128 units in January, which was an increase of 18.5% from January 2020. Residential sales haven’t hit this level in the month of January in more than three decades.
Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, Severn, and Georgian Bay Townships, numbered 108 units in January 2021. This outperformed January 2020 by a single sale and is the highest number of sales in the month of January on record.
“Demand for homes across the Southern Georgian Bay region is at an all time high,” said Matthew Lidbetter, President of the Southern Georgian Bay Association of REALTORS®. “This has resulted in home prices rising quickly across all property types, although particularly in those property types with more living space.”
The benchmark price for single-family homes was $546,000, advancing 29.5% on a year-over-year basis in January.
By comparison, the benchmark price for townhouse/row units rose by 19.5% to $437,000, compared to a year earlier, while the benchmark apartment price was $367,300, a gain of 11.2% from year-ago levels.
There were 255 new residential listings in January 2021. This was a significant decline of 47.3% on a year-over-year basis. This was the lowest number of new listings added in the month of January in more than three decades.
The dollar value of all home sales in January 2021 was $198.4 million, improving by 66% from the same month in 2020. This was also a new record for the month of January.
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