South Georgian Bay Market Report
Well, here’s to another new year in Southern Georgian Bay with all of its four-season beauty and possibilities. Throughout 2017 we’ll continue to provide these Monthly Market Reports, as well as our Quarterly Reports for each of the seven main communities we serve.
Given the incredible 2016 sales year that our region enjoyed, it’s really no surprise that the good news rolled into January. Dollar sales of $54,297,829 and unit sales of 111were up 44% and 6% respectively from last January’s records. And following the general decrease in homes on the market that began in early 2015, January’s sales came on just 169 new listings, down 32% from last January. This combination of phenomenal sales and fewer listings – as well as a 48% drop in expired listings from last year – yielded a January record 66% sales/listings ratio.
Lastly, there was a big 36% jump in the region’s average sale price to $489,170, although it more reflected the increased sale of luxury homes than it did an overall market appreciation.
Increased sales of residential vacant land and condominiums are a reflection of the low inventory of residential home and the increase in the prices of single family homes.
Royal LePage Locations North continues to lead the region in sales volume and value. In Luxury Home sales Royal LePage Locations North has 27% market share 13% higher than our nearest competitor.
2017 is a sellers’ market. I’ll show you how to sell your home for the most money!