Residential sales recorded through the MLS System of the Southern Georgian Bay Association of Realtors came in well above the levels of a year-ago in June 2016.
Home sales numbered 444 units in June, rising 19 per cent from a year earlier.
The Southern Georgian Bay Association of Realtors comprises two distinctive markets. Home sales in the Western Region, which includes Wasaga Beach, Springwater, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford, and Grey Highlands, rose 19.1 per cent on a year-over-year basis to 287 units in June.
Home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, and the Townships of Georgian Bay, Severn, Oro-Medonte, Tay and Tiny totalled 157 units in June. This was an increase of 18.9 per cent from June 2015.
On a year-to-date basis home sales totalled 1,876 units over the first half of the year, rising 25.6 per cent from the same period in 2015.
Year-to-date sales in the Western Region were up 21.4 per cent from 2015. Activity over the first half of 2016 recorded a gain of 34.2 per cent year-over-year in the Eastern Region.
“June 2016 saw more residential properties trade hands in the region served by the Association than in any other month in history, breaking the previous record set the month before,” said Kevin Woolham, President of the Southern Georgian Bay Association of Realtors. “While the overall stock of listings relative to demand is currently sitting at unprecedented lows, there has been some relief in the form of a solid rebound in new listings in the Western District.”
The number of new residential listings in June 2016 was 592 units, up 2.2 per cent from a year earlier.
Overall supply remains at the lowest levels in more than a decade. There were 1,095 active residential listings on the Association’s MLS® System at the end of June 2016, down 37.2 per cent from year-ago levels.
There were just 2.5 months of inventory at the end of June, down from the 4.7 months recorded at the end of June 2015 and well below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The value of all residential transactions in June was $150.1 million – the first time that the monthly dollar volume has ever surpassed the $150 million mark.
Sales of all types of properties numbered 484 units in June, an increase of 13.1 per cent compared to the same month in 2015. The total value of all properties sold in June 2016 was $162.7 million, up 30 per cent from June 2015.