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Market Update Year End 2017

Market Update:  Southern Georgian Bay Association of Realtors

Sales through MLS® 

2017 was another record year for real estate in Southern Georgian Bay. January to the end of June continued to set new monthly sales records, while the second half of the year started to slow down average levels of dollar volume and number of units sold.

The average price of all homes sold in December was $424,685, up 6.9% from December 2016 while the average annual price for all of 2017 was $444,756, up 23.9% from the same time last year.

The Southern Georgian Bay 2017 residential home sales were down 16.2% from 2016, making 2017 the 2nd highest annual level on record.

Nationally: CREA – National home sales surged in December

•  National home sales rose 4.5% from Nov to Dec (5th consecutive monthly increase).
•  Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y).
•  The number of newly listed homes climbed 3.3% from November to December.
•  The MLS® Home Price Index (HPI) in December was up 9.1% y-o-y.
•  The national average sale price advanced by 5.7% y-o-y. ($496,500 vs $381,000)

Regionally:  Clearview, Collingwood, Grey Highlands, Meaford, The Blue Mountains, Wasaga

•  Annual residential sales numbered 2081 units, down 13.6% from 2016.
•  Average annual sale price is up 22.2% to over $482,000 for all residential product.
•  (Seasonally adjusted sales up 1.2%; actual sales down 8.8% y-o-y, new listings 15%).
•  At year end supply remains historically low with only 2.7 months of inventory.
•  Sales to listing ratio of 93.8 %.
•  Total active listings in the Western District sit at only 322 units, down 15% from a year ago, and down 44% compared with 2015.

Sub-Market Pricing

•  Meaford and Wasaga Beach remain our two most affordable sub-districts with average purchase prices of $404,845 and $405,503
•  Collingwood, YTD sales are down 6.9% from 680 to 633 with prices up 21% to $456,411
o Single Family – $513,480 vs Condo – $389,341 (46% of res sales)
•  Clearview – annual sales down 23.5%, prices up 11.47% to $541,992
•  Grey Highlands – We don’t often focus on Grey Highlands, but sellers in that area will be pleased to know it has experienced a 12 month price gain of 35.9% to a new average of $648,787
•  The Blue Mountains remains our most expensive sub-district: $613,884 (up 21.8%)
o Single family – $827,632 vs Condo – $325,070 (43% of sales)
Overall supply remains at near record levels.

Toronto Real Estate

•  TREB: average sale price 2017 – $823,000 up 12.7%  (slow price growth in last 3Q’s)
o Single family – $1,098,951 vs Condo – $512,478

For more information contact Christine Brennan

Additional Resources from CREA

Western Region Fourth Quarter by Sub-District

Western Region includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford and Grey Highlands.

Ten Year Trend MLS® Residential Unit Sales Western District