LOCATIONS B R O K E R A G E
SOUTHERN GEORGIAN BAY REAL ESTATE MARKET REPORT
SECOND QUARTER 2021 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
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OVERVIEW RECORD Q2 VOLUME AND UNIT SALES, WITH AVERAGE PRICES WAY UP
RECORD Q2 SALES VOLUME OF $720,613,246 Up 129% from Q2-2020’s $315,112,432, with units of 849 up 62% from Q2-2020’s 523. New listings of 1227 up 32% from one year ago, with the sales/listings ratio of 69% up 13%.
RECORD JUNE SALES VOLUME OF $218,273,692 Up 15% from last June’s $190,631,577. with units of 266 down 12% from last year’s 303. New listings of 373 down 15% from a year ago, with the sales/listing ratio of 71% up 2%.
RECORD YEAR-TO-DATE AVERAGE SALE PRICE OF $843,447 Up 40% from last year’s $601,700. Average days-on-market of 19 down 34 days.
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY The Southern Georgian Bay market had a 100% sale/list price ratio in June. Homes sold in just 16 days on average, down 38 days from a year ago, and there is now just one month of inventory. All that, along with June’s 71% sales/listings ratio, adds up to a relatively strong sellers’ market. Graph 1: Southern Georgian Bay MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $1,400,000,000
$1,249,988,940 $1,200,000,000
$1,000,000,000
$800,000,000
$600,000,000
$543,480,363
$555,971,068
$400,000,000
$200,000,000
$0
2019
2020
2021
Graph 2: Southern Georgian Bay MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 1,600
1,482
1,400 1,200 1,000
1,011
924
800 600 400 200 0
2019
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2020
2021
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THE MARKET IN DETAIL Table 1: Southern Georgian Bay MLS® Sales And Listing Summary 2019 vs. 2020 vs. 2021
2019
2020
2021
2020-2021
$543,480,363
$555,971,068
$1,249,988,940
+125%
YTD Unit Sales
1011
924
1482
+60%
YTD New Listings
2011
1740
2011
+16%
YTD Sales/Listings Ratio
50%
53%
74%
+21%
YTD Expired Listings
236
291
66
-77%
$332,578,027
$315,112,432
$720,,613,246
+129%
625
523
849
+62%
1260
930
1227
+32%
Q2 Sales/Listings Ratio
50%
56%
69%
+13%
Q2 Expired Listings
142
159
38
-76%
$532,125
$602,509
$848,776
+41%
$104,983,235
$190,631,577
$218,273,692
+15%
June U nit Sales
194
303
266
-12%
June New Listings
421
441
373
-15%
June Sales/Listings Ratio
46%
69%
71%
+2%
56
50
23
-54%
$541,151
$629,147
$820,578
+30%
YTD Sales : Under $300K
105
73
23
-68%
YTD Sales: $300K - $499K
464
374
215
-43%
YTD Sales: $500K - $799K
336
334
663
+99%
YTD Sales: $800K - $999K
52
64
253
+295%
YTD Sales: $1M - $1.499M
36
47
213
+353%
YTD Sales: $1.5M - $1.999M
12
23
72
+213%
6
9
43
+378%
31
54
19
-65%
$537,567
$601,700
$843,447
+40%
Year-To-Date (YTD) Volume Sales
Second Quarter (Q2) Volume Sales Q2 U nit Sales Q2 New Listings
Q2 Average Price June Volume Sales
June Expired Listings June Average Price
YTD Sales: $2M+ 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 as of July 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.
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2021
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THE MARKET IN DETAIL (cont’d) Although, as Graphs 3 and 4 show, the Southern Georigan Bay market has fallen slightly from March’s high point, Q2 still saw big record volume sales, as well as strong unit sales. On the volume side, Q2 enjoyed three record months – that’s thirteen straight overall. The quarter’s $720,613,246 was up 129% from last year, and up 84% from 2017’s prior high. Additionally, Q2’s average price was up a big 41% from Q2-2020’s. On the units side, June sales dipped 12% from one year ago. And while Q2’s 849 sales were up 62% from Q2-2020, they were down 8% from 2016’s benchmark 918. All that said, the region’s year- to-date average sales price is climbing very nicely. At $843,447 it’s up 125%, 73%, 72%, 57% and 40% from 2016-2020 respectively. Graph 3: Southern Georgian Bay Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Volume) $300,000,000
2019 2020
$250,000,000
2021 $200,000,000
$150,000,000
$100,000,000
$50,000,000
$0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: Southern Georgian Bay Monthly MLS® Sales 2019 vs. 2020 vs. 2021 (Units) 450
2019
400
2020
350
2021
300 250 200 150 100 50
0
Jan
Feb
Mar
Apr
May
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Jun
2021
Jul
Aug
Sep
Oct
Nov
Dec
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THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2021 unit sales are up from 2020 in five price ranges and down in two. The $500K-$799K, $800K$999K, $1M-$1.499M, $1.5M-$1.999M and $2M+ ranges are up 99%, 295%, 353%, 213% and 378% respectively. The Under-$300K and $300K-$499K ranges are down 68% and 43% respectively. More generally, the Under-$500K bracket – which accounts for 16% of 2021’s sales – is down 47% from a year ago. The $500K- 999K bracket – which accounts for 62% of all sales – is up 130%. And the $1M+ bracket – which accounts for 22% of all sales – is up 315%. Graph 5: Southern Georgian Bay MLS® Sales By Price 2019 vs. 2020 vs. 2021 (Units) 700
2019 663
2020
600
2021 500 464
400 374
2019
336 334
300
2020 2021
253
200
100
215
105 73
0
213
23
Under $300K
52 $300K-$499K
$500K-$799K
64
$800K-$999K
36
47
$1M-$1.499M
12
23
72
$1.5M-$1.999M
6
9
43
$2M+
SOUTHERN GEORGIAN BAY MARKET REPORT: SECOND QUARTER 2021
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SALES BY PROPERTY TYPE Graph 6: Southern Georgian Bay MLS® Sales By Property Type 2019 vs. 2020 vs. 2021 (Dollars and Units)
2021 $255,953,917
2021 IN DETAIL SINGLE-FAMILY HOMES 2021
2021
2021
$83,526,715
$83,526,715 DOLLAR SALES : $255,953,917
$994,035,023 UP 117% from 2020
160
UNIT SALES: 1069 UP 53% from 2020
413
$98,223,009
$14,782,067
AV. SALE PRICE: $929,874 UP 42% from 2020 Single Family
Single Family
Single Family
Vacant Land
$994,035,023
1,069
$994,035,023
Condominium 2020
AV. DAYS-ON-MARKET: 17 DOWN 38 days from 2020
Condominium
Condominium
2020
2020
2020
Vacant Land
Vacant Land
CONDOS/TOWNS DOLLAR SALES: $255,953,917 UP 161% from 2020
65
227
UNIT SALES: 413 UP 2% from 2020
$457,748,059
Single Family
2019
Condominium
Vacant Land
$100,923,442
$22,531,784
AV. DAYS-ON-MARKET: 22 $457,748,059 DOWN 24 days from 2020
697
Single Family Condominium
$14,782,067
$98,223,009
AV. SALE PRICE: $619,743 Single Family UP 43% from 2020
2019
2019
2019
Condominium
Vacant Land
Vacant Land
$22,531,784
VACANT LAND
$100,923,442
87
DOLLAR SALES: $83,526,715 UP 465% from 2020
246
UNIT SALES: 160 UP 146% from 2020 $442,556,921
Single Family
Single Family
Condominium
Condominium
Single Family
Vacant Land
$442,556,921
765
Condos/Towns
AV. DAYS-ON-MARKET: 79 DOWN 14 days from 2020 Single Family
AV. SALE PRICE: $522,042 Condominium UP 130% from 2020 Vacant Land
Vacant Land Vacant Land
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2021
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SOUTHERN GEORGIAN BAY’S AVERAGE SALE PRICES: 2010-2021 HUGE GAINS, BOTH GENERALLY AND RELATIVE TO INFLATION SGB’s average sale price for single-family homes in Q2-2021 was $929,874: that’s up 21%, 62%, 75%, 83% and 204% from 2020, 2019, 2018, 2017 and 2010 respectively. Q2-2021’s average condo price of $560,107 was up 21% 49%, 59%, 63% and 153% from 2020, 2019, 2018, 2017 and 2010 respectively. From 2010-2013 the average sale price of a single-family home increased at just under Canada’s inflation rate and then rose to 151% above inflation in Q2-2021. Condo prices were under the inflation rate until 2015 before beginning to steadily climb in 2016 and finishing 101% above inflation in Q2-2021.
$1,000,000 $900,000 $800,000 $700,000 $600,000
$500,000 $400,000 $300,000 $200,000 $100,000
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Q2-2021
Single-Family Home Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On SGB’s 2010 Single-Family Home Average Sale Price Condominium Average Sale Price: 2010 > Q2-2021 Canada’s Inflation Rate Based On SGB’s 2010 Condominium Average Sale Price
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2021
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ROYAL LEPAGE LOCATIONS NORTH IN 2020 OUR 8TH STRAIGHT RECORD-BREAKING YEAR
WE BROKE OUR OWN SOUTHERN GEORGIAN BAY REGIONAL RECORD FOR ANNUAL MLS SALES VOLUME With $604,080,487 – up 91% from 2019 and up over 1000% from 2011
OVERALL WE HAD MORE THAN 4 TIMES THE SALES VOLUME OF OUR CLOSEST REGIONAL COMPETITOR
WE WERE #1 IN THE REGIONAL LUXURY HOME MARKET, WITH 4 TIMES THE UNIT SALES OF OUR CLOSEST COMPETITOR
Locations North Sales Volume, 2011 - 2020
2011 2011 2012 2013 2014 2015 2016 2017 2018 2019
2012
$53,047,171
2013
$89,145,175
2014
$96,796,883
2015
$121,934,732
2016
$159,707,227
2017 2018
$215,294,663
2019
$268,894,323
2020
$288,097,462 $316,114,237
$604,080,487
2020
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* Collingwood, The Blue Mts., Wasaga Beach, Meaford, Clearview, Grey Highlands
2020 UNIT SALES Collingwood
** $1,000,000+
The Blue Mountains UNITS
UNITS
PERCENTAGE
PERCENTAGE
Royal LePage Locations North 213.5 Royal LePage 43.4% Locations North
Royal LePage Locations North
270
Royal42.8% LePage Locations North
RE/MAX Four Seasons
79.5
RE/MAX Four Seasons 12.6%
RE/MAX Four Seasons
54.5
11.1% RE/MAX at Blue
Century 21 Millenium
70
Royal LePage Trinity 11.1%
RE/MAX at Blue
52.5
RE/MAX Four Seasons 10.7%
Chestnut Park
55
Chestnut Park 8.7%
Century 21 Millenium
Clairwood
45
Century 21 Millenium 7.1%
Chestnut Park
RE/MAX of Wasaga Beach
23
Clairwood 3.6%
Sotheby’s
Engel & Volkers
18
Engel & Volkers 2.9%
Clairwood
Forest Hill
13.5
RE/MAX of Wasaga Beach 2.1%
Sotheby’s
7
1.1%Other
50
Non-SGBAR 8%
Other
UNITS
Forest Hill
7.5
Engel & Volkers 1.5%
Engel & Volkers
6.5
1.3%Other
Other
45
Non-SGBAR 9.2%
UNITS
PERCENTAGE
PERCENTAGE
19
RE/MAX of Wasaga Beach
11.5
RM 4 Seasons 8.4%
RLP RCR 6.6%
Chestnut Park
10.5
RM Wasaga 7.7%
12
RE/MAX Grey Bruce 5.8%
Century 21 Millenium
8
Chestnut Park 5.8%
9
Chestnut Park 4.4%
Sotheby’s
6
Century 21 Mil enium 4.4%
8
3.9%McIntee
Forest Hill
5
3.6%Exit
6.5
RLP Trinity 3.2%
Engel & Volkers
2.5
Forrest Hill 1.8%
5
2.4%Other
Clairwood
2.5
1.8%Other
24
Non-SGBAR 11.7%
Other
25.5
Non-MLS 18.7%
13.5
Other
Clairwood 2.2%
RE/MAX Four Seasons
19
Sutton Sound
11
Century 21 Mil enium 9.7%
20
Century 21 Millenium
RE/MAX Grey Bruce
Royal3% LePage Trinity
RE/MAX Four Seasons 9.2%
Chestnut Park
Sotheby’s
15
Locations North 44 Royal LePage 32.1%
89
ARA
38.5
Royal LePage Locations North
Royal LePage Locations North
RE/MAX Four Seasons
Chestnut Park 9.8% Century 21 Millenium 7.8%
Clearview
Meaford
Royal LePage RCR
48
Royal LePage Locations North 43.2%
Southern Georgian Bay (West)* UNITS
RLP Trinity 13.9%
Southern Georgian Bay Luxury Homes** UNITS
PERCENTAGE
PERCENTAGE
Royal LePage Locations North 790.5
RE/MAX of Wasaga Beach 36.5%
Locations North Royal LePage Locations North 115.5Royal LePage 37.9%
RE/MAX of Wasaga Beach
Royal LePage Trinity 11.3%
RE/MAX Four Seasons
246
28.5
RE/MAX Four Seasons 9.3%
28
Chestnut Park 9.2%
232.5
Royal10.7% LePage Locations North
RE/MAX Four Seasons
175.5
Century 21 Mil enium 8.1%
Sotheby’s
Chestnut Park
132.5
RE/MAX Four Seasons 6.1%
Clairwood
Century 21 Mil enium 6.1% * ‘Units’ refers to18.5 the combined number of Listing Selling Engel & Volkers Sides 15.5and5.1%
Clairwood
62
Manuel Antunes 2.9%
Forest Hill
** $1,000,000+11.5
Sotheby’s
41.5
Sutton Group Incentive 1.9%
Century 21
11
Sotheby's 3.6%
Engel & Volkers
35.5
Col1.6% dwell Banker Ronan
Engel & Volkers
4
Royal LePage RCR 1.3%
29
1.3% Other
RE/MAX at Blue
3
Royal LePage Trinity 1%
420
Non-SGBAR 19.6%
73.5
22.7%Other
Century 21 Millenium
Forest Hill Other
Chestnut Park
Other
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2021
Clairwood 3.8%
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COLLINGWOOD 705-445-5520
THORNBURY 519-599-2136
330 First St.
27 Arthur St.
CREEMORE 705-881-9005
CRAIGLEITH 705-445-7799
154 Mill St.
209820 Hwy. 26 West.
MEAFORD 519-538-5755
WASAGA BEACH 705-429-4800
96 Sykes St.
1249 Mosley St.
STAYNER 705-428-2800
WASAGA BEACH 705-617-9969
7458 ON-26, #11.
1344 Mosley St. Unit 5.
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