As 2019 came to a close, it was clear that the Western Region Of Southern Georgian Bay had experienced a strong and stable year, even hitting an all-time record high, with the average sale price for a residential home in December 2019 reporting a 2o.7 % increase over last year. Strong demand, tight inventory and low-interest rates caused much of the accelerating price growth throughout the year with the average sale price coming in at an astonishing $594,714 for December 2019.

 

 

The number of sales rose 11.3 % with 89 sales reported in December vs 80 sales for the same period last year. New listings totaled 118 at the end of December vs 107 in December 2018, up 10.3 % year over year. Active listings were up 2.2 % over last December with 466 properties available vs 456 in December 2018. The Sales to New Listings Ratio was 75.4, clearly indicating strong seller market conditions. Looking ahead to what 2020 holds for the Western Region of Southern Georgian Bay, the forecast is positive, supported by continued demand and population growth in the region. However, expect low inventory to continue to put upward pressure on prices and affordability.

Older Blog Posts