2015 has been an exceptionally strong year for real estate in Southern Georgian Bay. Similar to the rest of the year November has set new records with an increase of over 15% compared to last year’s sales.
Important Highlights for Sellers and Buyers:
- The average price for a home in the region of Southern Georgian Bay has increased by almost 7%, an increase of roughly $22,000
- The average price for a home in Town of the Blue Mountains has increased by nearly 12% which means most homes are selling for over $600,000, an increase of roughly $64,000
- Sellers: The number of homes for sale is down significantly this year compared to 2014. With fewer homes on the market many listings are going into multiple offer situations. If you’re thinking of selling; now is the time!
- Buyers: The demand for homes is far exceeding the supply; you’ll need to make the decision to buy quickly or your dream home may be sold while you deliberate
Based on the market it’s obvious that Southern Georgian Bay is a place that people really want to be. The following graph shows just over a 200 million dollar increase in sales since 2013.
Georgian Triangle MLS Sales: January to November comparing 2013, 2014, and 2015
2015’s monthly sales have been up consistently over last year’s. Such a beautiful place to live with four seasons of activity, from sailing to skiing, is a draw for many to the area.
Georgian Triangle Monthly MLS Sales to Listings Ratio: January to November comparing 2014 to 2015
Expired listings in 2015 are dramatically lower than expired listings in 2014 (see below graph). In fact the sales to expired listing ration is at 153%! This means that if you are planning to sell your home the chance of it selling in a timely manner is quite high.
And so, at risk of sounding redundant, now is a great time to list your home. According to the data you have a great chance of selling your home in a reasonable amount of time and for a good price. If you’d like further information on the current market, or if you’re interested in selling or buying a home, don’t hesitate to contact us; we’d love to meet with you!