The South Georgian Bay Association of REALTORS® has released statistics on residential home sales for the month of May. Home sales numbered 311 units in May, edging up one per cent from the same month in 2014 and setting a new record for the month. Year-to-date home sales were running 16.3 per cent ahead of the first five months of 2014, marking the second best start to any year on record.
“With sales up and supply down, market conditions are the tightest they’ve been in a decade. This is resulting in some sizeable price gains.” says Kevin Woolham, President of the Southern Georgian Bay Association of REALTORS®. Overall supply continues running below levels from most of the past decade. There were 1,676 active residential listings on the Association’s MLS® System at the end of May 2015, down 26.3 per cent from year-ago levels.