While sales activity for The Western Region of Southern Georgian Bay was down 8.1% from last October, the average sale price in The Western Region for October 2018 was $519,059, up 8.2% over October 2017. Listing inventory still remained tight and prices continued to rise. With the exception of Wasaga Beach where the average sale price was $376,514, down 6.3% from October 2017, all areas in The Western Region saw an increase in average sale price year over year. The Town of The Blue Mountains average sale price was $738,887, a substantial increase of 25.3% over last October. Collingwood’s average sales price was $464,547, up 6.0% year over year. Clearview saw a 9.1% increase with an average sale price of $539,547 and The Town of Meaford reported an average sale price of $443,852, up 7.7% from last October.

 

 

Notwithstanding new listings were up 7.1% from 240 to 257, overall active residential inventory remained low for the 3rd consecutive year, likely a contributing factor to the 8.1% drop in the number of sales year over year. However, even with the Sales to New Listing Ratio down from 82.5% in October 2017 to 70.8%, The Western Region of Southern Georgian Bay remained a sellers market in October 2018. Looking toward the months ahead, where typically new listings decline over the holiday season, buyers should be organized and prepared to act when they find the home of their dreams.

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