LOCATIONS B R O K E R A G E
SOUTHERN GEORGIAN BAY REAL ESTATE MARKET REPORT
FIRST QUARTER 2020 WE’RE GRATEFUL TO HAVE BEEN CHOSEN
ROYAL LEPAGE’S 2016 BROKERAGE OF THE YEAR FOR ONTARIO
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OVERVIEW RECORD Q1 VOLUME AND AVERAGE PRICES, WITH NEW LISTINGS AND EXPIREDS UP
RECORD YEAR-TO-DATE SALES VOLUME OF $229,486,902 Up 19% from 2019’s $193,543,586, with units of 385 up 8% from 2019’s 356. New listings of 747 up 9%, with the sales/listings ratio of 52% equal to last year.
MARCH SALES VOLUME OF $83,132,186 Down .1% from last March’s $83,218,400. Units of 144 down 6% from last year’s 154. New listings of 303 were up 3% from a year ago, while the sales/listing ratio of 48% was down 4%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $596,070 Up 10% from the $543,662 of one year ago. Average days-on-market of 56 is down 5 days.
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS CURRENTLY LESS THAN THE SUPPLY March unit sales were the least since 2014 and down 40% from 2017’s high. Volume was the fourth-best ever, mainly due to the record average price. New listings and expireds were up 2% and 36% respectively from last March. Average sale times were down 7 days. The sales/listings ratio was 48%: a buyers’ market. Graph 1: Southern Georgian Bay MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $250,000,000
$200,000,000
$229,486,902
$181,704,997
$193,543,586
$150,000,000
$100,000,000
$50,000,000
$0
2018
2019
2020
Graph 2: Southern Georgian Bay MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 450 400
380
350
385 356
300 250
200 150 100 50 0
2018
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2019
2020
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THE MARKET IN DETAIL Table 1: Southern Georgian Bay MLS® Sales And Listing Summary 2018 vs. 2019 vs. 2020
2018
2019
2020
2019-2020
$181,704,997
$193,543,586
$229,486,902
+19%
Q1 Unit Sales
380
356
385
+8%
Q1 New Listings
686
685
747
+9%
Q1 Sales/Listings Ratio
55%
52%
52%
0%
Q1 Expired Listings
122
143
180
+26%
$91,610,599
$83,218,400
$83,132,186
-.1%
March Unit Sales
182
154
144
-6%
March New Listings
288
297
303
+2%
March Sales/Listing Ratio
63%
52%
48%
-4%
40
50
68
+36%
$503,355
$540,379
$577,307
+7%
4
4
0
-400%
Q1 Sales : $100K - $299K
74
41
39
-5%
Q1 Sales: $300K - $499K
182
154
157
+2%
Q1 Sales: $500K - $799K
82
111
116
+5%
Q1 Sales: $800K - $999K
22
23
36
+57%
Q1 Sales: $1M - $1.499M
12
13
21
+62%
Q1 Sales: $1.5M - $1.999M
3
7
14
+100%
Q1 Sales: $2M+
1
3
2
-33%
52
61
56
-8%
$478,171
$543,662
$596,070
+10%
First Quarter (Q1) Volume Sales
March Volume Sales
March Expired Listings March Average Sale Price Q1 Sales: Under $100K
Q1 Average Days-On-Market Q1 Average Sale Price
NOTE: All MLS® sales data in this report comes from the Southern Georgian Bay Association Of REALTORS® and refers specifically to residential sales..
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THE MARKET IN DETAIL (cont’d) As Graph 3 shows, 2020 had an exceptional first two months, with volume up 32% from 2019 and 17% from 2017’s previous record. The first half of March was also record-breaking, up 9% from 2017’s prior high. However, with the onset of COVID-19, March became a tale of two markets, with second-half volume down 16% from last year and down 47% from 2017. As Graph 4 shows, March’s second-half units followed the same pattern, down 32% from last year and 58% from 2017’s high. On a brighter note, March’s second-half, average sale price was up 24% from the first half, and March’s overall average price was up 7% from last March. Time will tell what prices do in the coming months. Graph 3: Southern Georgian Bay Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $140,000,000
2018 2019
$120,000,000
2020
$100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: Southern Georgian Bay Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 250
2018 2019
200
2020 150
100
50
0
Jan
Feb
Mar
Apr
May
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Jun
Jul
Aug
Sep
Oct
Nov
Dec
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THE MARKET IN DETAIL (cont’d) As Graph 5 shows, Q1-2020 unit sales are up from Q1-2019 in five price ranges and down in two. The $300K$499K, $500K-$799K, $800K-$999K, $1M-$1.499M, $1.5M-$1.999M ranges are up 2%, 5%, 57%, 62% and 100% respectively; the Under-$300K and $2M+ ranges are down 13% and 33% respectively. More generally, sales in the Under-$500K bracket are down 2% from one year ago, while the $500K-$999K bracket is up 13% and the $1M+ bracket is up 61%. Graph 5: Southern Georgian Bay MLSŽ Sales By Price 2018 vs. 2019 vs. 2020 (Units) 200
2018
180
2019
182
160
2020
154 157
140 120
111
100 80
116
2018
2019
82
78
2020
60 40
45
36 39
22
20 0
23 12
13
21 3
Under $300K
$300K-$499K
$500K-$799K
$800K-$999K
$1M-$1.499M
7
14
$1.5M-$1.999M
1
3
2
$2M+
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SALES BY PROPERTY TYPE Graph 6: Southern Georgian Bay MLS® Sales By Property Type 2018 vs. 2019 vs. 2020 (Dollars and Units)
2020 $38,331,721
2020
2020
$7,911,500
33
$191,155,181
292 Single Family
Single Family
Vacant Land
$27,391,400
2019
2019
Vacant Land
22 69
287
Single Family
Single Family
Condominium 2018
Condominium
$6,368,600
AV. DAYS-ON-MARKET: 58 DOWN 2 days from 2019 $191,155,181 AV. SALE PRICE: $654,641 UP 13% from 2019 Single Family
Condominium
2019
Vacant Land
CONDOMINIUMS $7,846,300
$27,391,400
DOLLAR SALES: $38,331,721 UP 40% from 2019 UNIT SALES: 93 UP 35% from 2019
$166,152,186
$30,818,064
$7,911,500 DOLLAR SALES : $191,155,181 UP 14% from 2019
$38,331,721
Condominium
$7,846,300
Vacant Land
SINGLE-FAMILY HOMES 2020
UNIT SALES: 292 UP 2% from 2019
93
Condominium 2019
2020 IN DETAIL
2018
2018
Vacant Land
AV. DAYS-ON-MARKET: 49 $166,152,186 DOWN 18 days from 2019 AV. SALE PRICE: $412,169 Single Family UP 4% from 2019
2018
Condominium Vacant Land
34
$6,368,600
VACANT LAND
$30,818,064
DOLLAR SALES: $7,911,500 UP 1% from 2019
89
UNIT SALES: 33 UP 50% from 2019 $150,886,933
291
Single Family
Single Family
Condominium
Condominium
Single Family
Vacant Land
Condominium
Vacant Land Vacant Land
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$150,886,933
AV. DAYS-ON-MARKET: 89 DOWN 23 days from 2019 Single Family
AV. SALE PRICE: $239,742 Condominium DOWNVacant 33%Land from 2019 www.locationsnorth.com
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SOUTHERN GEORGIAN BAY’S #1 SELLING BROKERAGE IN 2019: WE HAD OUR 7TH STRAIGHT RECORD YEAR FOR REGIONAL MLS SALES VOLUME With $316,114,237 – up 10% from 2018 and up nearly 500% from 2011!
WE HAD NEARLY 3 TIMES THE SALES VOLUME, AND MORE THAN 2 TIMES THE SALES UNITS OF OUR CLOSEST REGIONAL COMPETITOR WE WERE #1 IN THE REGIONAL LUXURY HOME MARKET, WITH 2¼ TIMES THE VOLUME OF OUR CLOSEST COMPETITOR UNITS
PERCENTAGE
RE/MAX of Wasaga Beach Royal LePage Locations North 443.25 24.9%
RE/MAX of Wasaga Beach
Royal LePage Trinity 202.75 11.4%
Royal LePage Trinity
153.75
Royal8.6% LePage Locations North
RE/MAX Four Seasons
152.25
Century 21 Millenium 8.5%
Century 21 Millenium
137.25
RE/MAX Four Seasons 7.7%
97.5
Manuel Antunes 5.5%
49
Sutton Group Incentive 2.7%
RE/MAX at Blue
46.5
Coldwell Banker Ronan 2.6%
Engel & Volkers
27
Chestnut Park
Clairwood
Other
473.75
1.5%
Other
26.6%Non-SGBAR
Locations North Sales Volume, 2011 - 2019 2011 2012 2013 2014 2015 2016
2011 2012
$ $53,047,171
2013
$89,145,175
2014
$96,796,883
2015 2016
$121,934,732
2017
$159,707,227
2018
$215,294,663
2017 2018 2019
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2019 $268,894,323 $288,097,462 $316,114,237
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WE GIVE YOU OPTIONS AT LOCATIONS NORTH, WE DO EVERYTHING WE CAN TO PUT YOU FIRST – and that includes respecting your privacy. If we can ever be of help with your real estate needs, please let us know.
COLLINGWOOD 705-445-5520 330 First Street
THE BLUE MOUNTAINS 519-599-2136 27 Arthur Street
MEAFORD 519-538-5755 96 Sykes Street
WASAGA BEACH 705-617-9969 1344 Mosley Sreet, Unit 5
CLEARVIEW 705-881-9005 143 Mill St., Creemore
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