LOCATIONS B R O K E R A G E
WASAGA BEACH REAL ESTATE MARKET REPORT
SECOND QUARTER 2020 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
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OVERVIEW RECORD JUNE VOLUME SALES, CAP THIRD BEST Q2 EVER
YEAR-TO-DATE SALES VOLUME OF $123,592,481 Up 15% from 2019’s $107,742,189, with units of 250 up 6% from 2019’s 236. New listings of 436 down 20% from a year ago, with the sales/listings ratio of 57% up 14%.
Q2 SALES VOLUME OF $78,976,050 Up 12% from Q2-2019’s $70,698,389. Units of 158 up 4% from Q2-2019’s 152, with new listings of 235 down 31% and the sales/listings ratio of 67% up 22%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $494,370 Up 8% from the $456,535 of a year ago. Average days-on-market of 48 down 3 days.
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS LESS CURRENTLY GREATER THAN THE SUPPLY After a slow April and May, Wasaga Beach enjoyed its best ever monthly volume of $43,487,100 in June, up 92% from last June and 13% from May 2017’s previous high. June’s 85 units were the third-best ever. With June’s new and expired listings both down from 2019, and its sales/listings ratio of 77%, Wasaga has a sellers’ market. Graph 1: Wasaga Beach MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $140,000,000
$123,592,481 $120,000,000
$111,674,398
$107,742,189
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$0
2018
2019
2020
Graph 2: Wasaga Beach MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 300
268 250
236
250
200
150
100
50
0
2018
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
2019
2020
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LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL Table 1: Wasaga Beach MLS® Residential Sales And Listing Summary 2018 vs. 2019 vs. 2020
2018
2019
2020
2019-2020
$111,674,398
$107,742,189
$123,592,481
+15%
YTD Unit Sales
268
236
250
+6%
YTD New Listings
486
543
436
-20%
YTD Sales/Listings Ratio
55%
43%
57%
+14%
56
72
69
-4%
$73,517,348
$70,698,389
$78,976,050
+12%
Q2 U nit Sales
173
152
158
+4%
Q2 New Listings
297
340
235
-31%
Q2 Sales/Listings Ratio
58%
45%
67%
+22%
28
42
35
-17%
$424,956
$465,121
$499,848
+7%
$23,879,158
$22,631,988
$43,487,100
+92%
June U nit Sales
59
50
85
+70%
June New Listings
94
116
108
-7%
63%
43%
79%
+36%
17
15
13
-13%
$404,731
$452,640
$511,613
+13%
YTD Sales : Under $100K
5
1
0
-100%
YTD Sales: $100K - $299K
51
25
27
+8%
YTD Sales: $300K - $499K
149
125
113
-10%
YTD Sales: $500K - $799K
58
78
99
+27%
YTD Sales: $800K - $999K
3
4
6
+50%
YTD Sales: $1M - $1.499M
2
3
5
+67%
43
51
48
-6%
$416,696
$456,535
$494,370
+8%
Year-To-Date (YTD) Volume Sales
YTD Expired Listings Second Quarter (Q2) Volume Sales
Q2 Expired Listings Q2 Average Sale Price June Volume Sales
June Sales/Listings Ratio June Expired Listings June Average Sale Price
YTD Average Days-On-Market YTD 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.
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
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THE MARKET IN DETAIL (cont’d) One notable fact about Wasaga Beach’s market in the COVID-19 world is that, with one exception1, its volume and unit sales never fell as far in April and May as all the other Southern Georgian Bay communities did. It’s difficult to say why, but Wasaga’s combined April and May volume was only down 26% from 2019, while the other regional communities were collectively down 61%. And while Wasaga’s April/May units were down 28%, the other communities were collectively down 58%. As well, Wasaga’s June volume and units were up 92% and 70% respectively over 2019, the region’s third-best2 increase. All that said, it’s good to see the average sale price keep climbing: 2020’s is up 66%, 54%, 22%, 19% and 8% from 2015-2019 respectively.
1 2
Grey Highlands volume was down less. The Blue Mts. and Grey Highlands had greater gains.
Graph 3: Wasaga Beach Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $50,000,000
2018
$45,000,000
2019
$40,000,000
2020
$35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: Wasaga Beach Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 90
2018
80
2019
70
2020
60 50 40 30 20 10 0
Jan
Feb
Mar
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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LOCATIONS B R O K E R A G E
THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2020 unit sales are up from 2019 in four price ranges and down in two. The $100K-$299K, $500K$799K, $800K-$999K and $1M-$1.499 ranges are up 8%, 27%, 50% and 67% respectively, while the Under-$100K and $300K-$499K ranges are down 100% and 10% respectively. More generally, the Under-$500K price bracket – which accounts for 56% of 2020’s sales – is down 7% from 2019. The $500K-$999K bracket – which accounts for 42% of the sales – is up 28%. And the $1M+ range – which accounts for 2% of the sales – is up 67%. Graph 5: Wasaga Beach MLS® Sales By Price 2018 vs. 2019 vs. 2020 (Units) 160
2018 149
140 120
2019 2020
125 113
100
99
80
2018
78
2019
60
2020 51
40
38
20
25
5
0
1
27 3
0
Under $100K
$100K-$299K
$300K-$499K
$500K-$799K
4
6
$800K-$999K
WASAGA BEACH MARKET REPORT: SECOND QUARTER 2020
2
3
5
$1M-$1.499M
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SALES BY PROPERTY TYPE Graph 6: Wasaga Beach MLS® Sales By Property Type 2018 vs. 2019 vs. 2020 (Dollars and Units)
2020 $4,757,650
2020
2020 IN DETAIL 2020
$1,514,580 DOLLAR SALES : $4,757,650
14 10
$1,514,580
SINGLE-FAMILY HOMES 2020 $118,834,831 UP 16% from 2019 UNIT SALES: 236 UP 6% from 2019
236
$118,834,831
Single Family
Single Family Condominium 2019 Vacant Land
Condominium
2019
2019
Vacant Land
$4,953,900 $1,053,000
AV. DAYS-ON-MARKET: 48 DOWN 2 days from 2019 $118,834,831
AV. SALE PRICE: $503,537 UP 9% from 2019 Single Family Condominium
2019 Vacant Land
CONDOMINIUMS $4,953,900 $1,053,000
DOLLAR SALES: $4,757,650 DOWN 4% from 2019
14 9
UNIT SALES: 14 EQUAL to 2019 $102,788,289
222
Single Family
Single Family
Condominium 2018
Condominium
Vacant Land
2018
2018
Vacant Land
$7,862,350 $1,409,000
24
9
AV. DAYS-ON-MARKET: 58 $102,788,289 DOWN 8 days from 2019 AV. SALE PRICE: $339,832 Single Family DOWN 4% from 2019
2018
Condominium Vacant Land
$7,862,350 $1,409,000
VACANT LAND DOLLAR SALES: $1,514,580 UP 44% from 2019 UNIT SALES: 10 UP 11% from 2019
$103,812,048
244
Single Family
Single Family
Condominium
Condominium
Single Family
Vacant Land
Condominium
Vacant Land Vacant Land
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
$103,812,048
AV. DAYS-ON-MARKET: 78 UP 50 days from 2019 Single Family
AV. SALE PRICE: $151,450 Condominium UP 29% from 2019 Vacant Land www.locationsnorth.com
LOCATIONS B R O K E R A G E
WASAGA BEACH AVERAGE SALE PRICES: 2010-2020 BIG GAINS, BOTH GENERALLY AND RELATIVE TO INFLATION Wasaga Beach’s average sale price for single-family homes in Q1-2020 was $491,758: that’s up 8%, 17%, 19%, 47% and 95% from 2019, 2018, 2017, 2016 and 2010 respectively. 2019’s average condo price of $337,418 was up 1%, 2% and 47% from 2018, 2017 and 2016, but fell 16% to $283,333 in Q1-2020. From 2010-2014 the average sale price for single-family homes increased at roughly Canada’s inflation rate and then rose to 65% above inflation by Q1-2020. Condo prices started rising in 2016, peaked at 69% above inflation in 2017, leveled off in 2018-19, and dropped to 37% over inflation in Q1-2020.
$500,000
$400,000
$300,000
$200,000
$100,000 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019 Q1-2020
Single-Family Home Average Sale Price: 2010 > Q1-2020 Canada’s Inflation Rate Based On Wasaga Beach’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > Q1-2020 Canada’s Inflation Rate Based On Wasaga Beach’s 2010 Condominium Average Sale Price
LOCATIONS B R O K E R A G E
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
1.5%
Other
473.75 26.6%Non-SGBAR
Locations North Sales Volume, 2011 - 2019 2011 2012 2013 2014 2015
2011 2012
$ $53,047,171
2013
$89,145,175
2014
$96,796,883
2015 2016
$121,934,732
2017
$159,707,227
2016 2017 2018 2019
WA S AG A B E AC H M A R K E T R E P O R T: S E C O N D Q U A R T E R 2 0 2 0
2018
$215,294,663
2019 $268,894,323 $288,097,462 $316,114,237
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