While COVID 19 continues to have an impact on real estate activity across Canada, the local market is showing some significant improvements in both demand and sales especially in the higher price segments of the market
Total MLS® sales as reported by the Southern Georgian Bay Association of REALTORS® (SGBAR) in June of 295 units were up 91 units sold or 45% from the 204 properties sold in June 2019. June MLS® dollar volume of $182.4 million was up a hefty $77.2 million or 73% from June 2019.
Year-to-date MLS® dollar volume for our area totals $541.5 million, down $11.4 million (-21%) from sales of $552.9 million in 2019. Although lagging behind last year, year-to-date MLS ® dollar volume is up $40.6 million (8%) ahead of the first six months of 2018.
New MLS® listings in June totalled 400 up from 323 in May. Sellers are adapting to the protocols of selling properties brought on by COVID 19 indicating that consumer confidence is somewhat coming back.
Expired MLS® listings in June totalled 81 properties, 8 more than in May. Year-to-date expired MLS® listings continue to reflect an increase over last year totalling 454 versus 417 a year ago up 12%.
We have yet to see any downward pressure on prices stemming from the pandemic & economic downturn. The year-to-date average list- to-sale price ratio is 97.7% versus 97.6% one year ago.
Year-To-Date MLS® single family home sales in June totalled 662 units down 9% from the 729 sales last year.
Condo sales have softened during the first six months of 2020 and now total 180 units versus 198 sales last year also reflecting a drop of 9% equal to single family home sales.
NOTE: The statistics contained herein do not include the sale of new homes and condominiums
made outside of the MLS ® system by builders and or developers and their own sales staff.
Year-to-date MLS® single family home sales in many area municipalities are lagging behind 2019 as follows: Collingwood -28%, Clearview Township -13%, Blue Mountains -15%, Municipality of Meaford -26% while sales in the Grey Highlands and Wasaga Beach are up 30% and 6% respectively.
MLS® single family home sales continue to remain the strongest between $800,000 to $2 Million. As per the accompanying chart, year-to-date sales from $800,000 to $1,499,999 are up from 23% to 32%. Sales $1.5 to $2 million are up 91% whiles sales over $2 million are up 33% albeit for a smaller volume with 8 units sold versus 6 sales last year at this time.
As we head into the second half of 2020 it will be interesting to see if the robust sales activity in the higher price segments of the market continues and whether sales in the lower price ranges ie: under $500,000 pick up the lag they are currently showing. For a PDF copy of this report click here June 2020 Real Estate Market Report. For more information on other aspects of the local real estate such as the condo or luxury home market(s) please click on the following: 2nd Quarter Luxury Properties Market Report and 2nd Quarter 2020 Condominium Market Report.
Alternatively I would be delighted to engage with you in a no obligation conversation with respect to your specific buying and or selling needs and how myself and Sotheby’s International can assist you in attaining your goals and objectives. Fell free to Contact me at your convenience.