Southern Georgian Bay home sales up in November
Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in above year-ago levels in November 2014.
Home sales numbered 206 units in November, up 7.9 per cent from the same month last year.
The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western District which includes Wasaga Beach, Collingwood, Clearview Township, The Blue Mountains, Municipality of Meaford and Grey Highlands increased 12.7 per cent on a year-over-year basis to 142 units. This was the best month of November since 2011 and the third best ever.
Home sales in the Eastern District encompassing the Towns of Midland and Penetanguishene, the surrounding communities of Elmvale, Port McNicoll, Victoria Harbour, Coldwater, Port Severn, Honey Harbour and Tiny, Tay, Springwater, Oro-Medonte, Severn and Georgian Bay Townships totaled 64 units in November. This was little changed (one less sale) from last November.
“With one month left to go this year, 2014 is on track to post the best annual sales figure in seven years and quite possibly the second best ever in the Southern Georgian Bay region,” said Wayne Cornfield, President of the Southern Georgian Bay Association of REALTORS®. “As has been the case all year, the overall numbers are still being driven by near-record level activity in the western district, while 2014 has been a below average year for sales in the less active eastern district.”
The number of new residential listings in November 2014 was 361 units, down 11.3 per cent from a year earlier. New listings were down in the western district but increased in the eastern district
There were 1,757 active residential listings on the Association’s MLS® System at the end of November 2014, down 9.9 per cent from year-ago levels.
There were 8.5 months of inventory at the end of November, down from 10.2 months at the end of November 2013 and below the average for this time of year as well.
The value of all residential transactions in November was $56.5 million, up 1.9 per cent from a year earlier.
Sales of all types of properties numbered 233 units in November, an increase of five per cent compared to the same month in 2013. The total value of all properties sold in November 2014 was $65.2 million, down 2.9 per cent from last November.