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TINY TOWNSHIP REAL ESTATE MARKET REPORT
SECOND QUARTER 2020 RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO
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OVERVIEW VOLUME, UNITS, LISTINGS AND AVERAGE PRICES UP
YEAR-TO-DATE SALES VOLUME OF $66,371,888 Down 1% from 2019’s $66,927,705, with units of 123 equal to 2019. New listings of 242 down 22% from one year ago, with the sales/listings ratio of 51% up 11%.
Q2 SALES VOLUME OF $41,661,188 Down 9% from 2019’s $45,597,205. Units of 75 down 7% from Q2-2019’s 81, with new listings of 127 down 41% and the sales/listings ratio of 59% up 21%.
YEAR-TO-DATE AVERAGE SALE PRICE OF $539,609 Down 1% from last year’s $544,128. Average days-on-market of 49 up 9 days.
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS CURRENTLY GREATER THAN THE SUPPLY COVID-19 had relatively little effect on June’s numbers. Volume of $20,093,788 was down 13% from 2019, but up 7% from 2018. Units of 34 were down from 2019’s 42 and 2018’s 36, but the average sale price was up 8% and 14% respectively. New listings were down 37% from 2019, yielding a 67% sales/listings ratio and a sellers’ market. Graph 1: Tiny Township MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $80,000,000 $70,000,000
$63,062,988
$66,927,705
$66,371,888
2019
2020
$60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000
$10,000,000 $0
2018
Graph 2: Tiny Township MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 140
120
119
123
123
2018
2019
2020
100
80
60
40
20
0
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
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THE MARKET IN DETAIL Table 1: Tiny Township MLS® Residential Sales And Listing Summary 2018 vs. 2019 vs. 2020
2018
2019
2020
2019-2020
$63,062,988
$66,927,705
$66,371,888
-1%
YTD Unit Sales
119
123
123
0%
YTD New Listings
264
311
242
-22%
YTD Sales/Listings Ratio
45%
40%
51%
+11%
31
47
55
+17%
$42,546,888
$45,597,205
$41,661,188
-9%
80
81
75
-7%
Q2 New Listings
181
216
127
-41%
Q2 Sales/Listings Ratio
44%
38%
59%
+21%
14
27
25
-7%
$531,836
$562,928
$555,483
-1%
$18,739,700
$22,990,645
$20,093,788
-13%
June U nit Sales
36
42
34
-19%
June New Listings
73
81
51
-37%
49%
52%
67%
+15%
6
10
10
0%
$520,547
$547,396
$590,994
+8%
YTD Sales: $100K - $299K
21
18
6
-67%
YTD Sales: $300K - $499K
56
51
58
+14%
YTD Sales: $500K - $799K
25
41
47
+15%
YTD Sales: $800K - $999K
6
5
5
0%
YTD Sales: $1M - $1.499M
5
6
6
0%
YTD Sales: $1.5M - $1.999M
6
1
1
0%
YTD Sales: $2M+
0
1
0
-100%
43
40
49
+23%
$529,941
$544,128
$539,609
-1%
Year-To-Date (YTD) Volume Sales
YTD Expired Listings Second Quarter (Q2) Volume Sales Q2 U nit 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.
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
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THE MARKET IN DETAIL (cont’d) Looking at Graph 3 , what is most striking is how similar 2020’s and 2019’s sales lines are. The key differences are February and June, which offset one another. The same is more or less true with Graph 4. The point is: even though COVID -19 affected how real estate was practiced, it had surprisingly little effect on 2020’s sales numbers. As to the specifics, 2020 had just 1% less volume than 2019, and both saw 123 sales. The main difference was 2020’s 22% fewer listings, making it a sellers’ market, whereas 2019 was a buyers’. As far as average sale prices go, 2020 is down 1% from 2019, but up 54%, 23% and 2% from 2016-2018 respectively.
Graph 3: Tiny Township Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $25,000,000
2018 2019
$20,000,000
2020
$15,000,000
$10,000,000
$5,000,000
$0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: Tiny Township Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 45
2018
40
2019
35
2020
30 25 20 15 10 5 0
Jan
Feb
Mar
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2020’s unit sales are up from 2019 in two price ranges, down in one and equal in three. The $300K$499K and $500K-$799K ranges are up 14% and 15% respectively. The Under-$300K range is down 67%. And the $800K-$999K, $1M-$1.499M and $1.5M+ ranges are equal. More generally, sales in the Under-$500K bracket – which account for 52% of 2020’s sales – are down 7% from 2019. Sales in the $500K-$999K bracket – which account for 42% of the sales – are up 13%. And sales in the $1M+ bracket – which account for 6% of the sales – are down 12%. Graph 5: Tiny Township MLS® Sales By Price 2018 vs. 2019 vs. 2020 (Units) 70
2018 2019
60 58
56
50
2020
51 47
40
41
2018 2019
30
20
2020
25 21
18
10 6
0
Under $300K
6 $300K-$499K
$500K-$799K
5
5
$800K-$999K
5
6
6
$1M-$1.499M
6
1
1
0
1
0
$1.5M-$1.999M
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
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SALES BY PROPERTY TYPE Graph 6: Tiny Township MLS® Sales By Property Type 2018 vs. 2019 vs. 2020 (Dollars and Units)
2020
2020 IN DETAIL 2020
2020
SINGLE-FAMILY HOMES 2020 DOLLAR SALES : $66,371,888 $4,786,200 DOWN 1% from 2019
$4,786,200
32
UNIT SALES: 123 UP 1% from 2019 AV. DAYS-ON-MARKET: 49 UP 10 days from 2019
$66,371,888
123 Single Family
Single Family Condominium
2019
Vacant Land
$99,900
Condominium
2019
2019
$2,505,300
Vacant Land
1
$66,371,888
AV. SALE PRICE: $539,609 DOWN 1% from 2019 Single Family
Condominium
2019 Vacant Land
CONDOMINIUMS $99,900
20
$2,505,300
DOLLAR SALES: 0 DOWN $99,999 from 2019 UNIT SALES: 0 DOWN 1 from 2019
$66,827,805
122
Single Family
Single Family
Condominium 2018
Condominium
Vacant Land
2018
2018
Vacant Land
AV. DAYS-ON-MARKET: 0 $66,827,805 DOWN 139 days from 2019 AV. SALE PRICE: 0 Single Family DOWN $99,999 from 2019
2018
Condominium Vacant Land
$2,297,000
$2,297,000
14
VACANT LAND DOLLAR SALES: $4,786,200 UP 91% from 2019 UNIT SALES: 32 UP 60% from 2019
$63,062,988
119
Single Family
Single Family
Condominium
Condominium
Single Family
Vacant Land
Condominium
Vacant Land Vacant Land
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
$63,062,988
AV. DAYS-ON-MARKET: 75 UP 6 days from 2019 Single Family
AV. SALE PRICE: $149,569 Condominium UP 19% from 2019 Vacant Land www.locationsnorth.com
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TINY TOWNSHIP AVERAGE SALE PRICES: 2010-2020 HUGE GAINS, BOTH GENERALLY AND RELATIVE TO INFLATION Tiny’s average sale price for single-family homes began to climb rapidly in 2015, reaching its annual peak in 2019 at $554,847 — up 6%, 27%, 53%, 57%, 84% and 93% from 2018, 2017, 2016, 2015, 2014 and 2010 respectively., It then dropped to 7% to $514,806 in Q1-2020. From 2010 to 2014 Tiny’s annual average sale price for single-family homes increased at approximately Canada’s inflation rate. From 2015-2019 the average price rose 65% above the inflation rate before dropping to 52% above inflation in Q1-2020.
$560,000 $500,000 $440,000 $380,000 $320,000 $260,000 $200,000 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 Tiny’s 2010 Single-Family Home Average Sale Price
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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
473.75
1.5%
Other
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
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
2018
$215,294,663
2019 $268,894,323 $288,097,462 $316,114,237
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LOCATIONS B R O K E R A G E
WE GIVE YOU OPTIONS AT LOCATIONS NORTH, WE DO EVERYTHING WE CAN TO PUT YOU FIRST – and that includes respecting your privacy. If we can ever be of help with your real estate needs, please let us know.
COLLINGWOOD 705-445-5520 330 First Street
THE BLUE MOUNTAINS 519-599-2136 27 Arthur Street
MEAFORD 519-538-5755 96 Sykes Street
WASAGA BEACH 705-617-9969 1344 Mosley Street, Unit 5
CLEARVIEW 705-881-9005 143 Mill Street, Creemore
TINY TOWNSHIP MARKET REPORT: SECOND QUARTER 2020
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