Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in well above year-ago levels in January 2015.
Home sales numbered 135 units in January, up 26.2 per cent from the same month in 2014 and the best start to the year since 2004.
The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western District which includes Wasaga Beach, Collingwood, Clearview Township, The Blue Mountains, Municipality of Meaford and Grey Highlands increased 39.1 per cent on a year-over-year basis to 96 units.
Home sales in the Eastern District encompassing the Towns of Midland and Penetanguishene, the surrounding communities of Elmvale, Port McNicoll, Victoria Harbour, Coldwater, Port Severn, Honey Harbour and Tiny, Tay, Springwater, Oro-Medonte, Severn and Georgian Bay Townships totaled 39 units in January. This was an increase of 2.6 per cent from last January.
“With both the Eastern and Western districts pulling in the same direction in January, the strong sales numbers we’ve been seeing since last May continued to start the New Year,” said Kevin Woolham, President of the Southern Georgian Bay Association of REALTORS®. “Probably the most interesting detail from the January numbers was the large number of high-end transactions in the Western district which caused the average sale price to jump.”
The number of new residential listings in January 2015 was 359 units, down 19 per cent from a year earlier. New listings were down in both the Western and Eastern Districts.
There were 1,379 active residential listings on the Association’s MLS® System at the end of January 2015, down 9.7 per cent from year-ago levels.
There were 10.2 months of inventory at the end of January, down from 14.3 months at the end of January 2014 and below the average for this time of year as well.
The value of all residential transactions in January was $45.4 million, up 41.9 per cent from a year earlier.
Sales of all types of properties numbered 157 units in January, an increase of 25.6 per cent compared to the same month in 2014. The total value of all properties sold in January 2015 was $52.4 million, up 41.6 per cent from last January.
The above information is from a press release issued by the Southern Georgian Bay Association of REALTORS®.