It’s still a strong seller’s market for homes and building lots across the south Georgian Bay region.
The president of the South Georgian Bay Association of Realtors reports that last month 390 properties traded hands in towns across its Eastern and Western regions. President Kevin Woolham said this was a 20.4% increase from sales across SGBAR’S two markets in July 2015.
The association’s eastern region encompasses seven communities including the towns of Midland and Penetanguishene. Its western region takes in another seven communities including the Towns of Collingwood and The Blue Mountains as well as the Municipalities of Grey Highlands and Meaford.
Realtors in the Association’s Western Region sold 226 properties last month. This represents an increase in sales of 3.5 percent over July 2015. Home sales in SGBAR’s Western region for the first seven months of of this year are up 18 percent over the same period of 2015. Woolham goes on to report the increase in sales in the Association’s Eastern region has been even more dramatic with property sales in July up 57% over sales in July of last year.
“What’s more surprising is that (home) sales can keep up this pace with so few properties available for sale," says Woolham. "The number of new residential listings last month was 451 units. That's down almost 14% from July a year earlier."