November 2015 Real Estate Market Report

New Annual Sales Record Set

With one month to go in 2015, November’s sales broke 2014’s Georgian Triangle MLS annual record of $705,564,088, finishing the month with $758,713,920. Not only that, but November’s sales of $55,112,227, were the best ever for the month, up 15.3% over November 2014 previous record sales of $47,800,395.

2015’s consistent sales records have come despite there being substantially fewer homes on the market. While November 2015 sales are up 20.3% over 2014, the 2015’s total listings of 4180 are down 15.3% from 2014’s 4937 listings.

Overall supply remains at a decade low. There were 1,133 active residential listings on the Association’s MLS® System at the end of November 2015, down 35.5 per cent from year-ago levels.

Sellers: The number of homes for sale in the area is significantly down this year compared to 2014. With fewer homes on the market many listings are selling quickly and attracting multiple offers. If you’re thinking of selling; this is an ideal time!

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 edged down 1.4 per cent on a year-over-year basis to 140 units in November 2015. That said, it was nevertheless one of the best Novembers on record for sales. On a year-to-date basis, home sales were running at the highest level on record, up 7.4 per cent from last year.

The average price of homes sold in the Western District was $317,202 in November. This was an increase of 9.2% from a year earlier. Year-to-date, average sale price is up 7.2 %.

Unit sales were up in all price ranges especially in price ranges of $300K-to-$499K (up 33.1%) and $500K-to-$799K (up 31.7%).

The take-away – It’s a great time to be a seller. Generally, prices are up over 2014 and there is less competition among sellers, given that the 2015 listing inventory has been down every month from 2014. Expired listings are down 31.6% from 2014. And, with unit sales up 14.6%, dollar volume sales up 20.3%, and lots of multiple offers – means buyers are certainly buying.

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