Market Report – February 2021

In addition to the SGBAR Monthly Report, at this time we are pleased to provide you with an updated Wasaga Beach Real Estate Market Report for the completed month of February 2021.

Summary:

Included herewith is a comparison summary for ALL RESIDENTIAL YEAR-TO-DATE as reported to SGBAR at the end of February 2021:

Western Region of Southern Georgian Bay
Sales Activity up + 23.5%
Sales Volume up + 62.4%
Average Price up + 31.5%

Wasaga Beach: January 2021
Sales Activity up + 30.4%
Sales Volume up + 67.7%
Average Price up + 28.6%

Collingwood: January 2021
Sales Activity down  -10.1% (low inventory)
Sales Volume up + 32.5%
Average Price up + 47.2%

Town of Blue Mountains: January 2021

Sales Activity up + 21.5%
Sales Volume up  + 42.6%
Average Price up + 17.3%

Clearview Township: January 2021
Sales Activity up + 114.3%
Sales Volume up + 158.8%
Average Price up + 20.8%

The Ontario Real Estate Association (OREA) continues to provide Realtors with safe and responsible guidance during the Ontario State of Emergency. Real estate remains an essential service to ensure Ontarian’s shelter. With the use of virtual tools in the real estate industry and the implementation of personal protection equipment and safety protocols, transactions continue to transpire.

All information provided below is in reference to residential single-family detached freehold ownership homes sold in Wasaga Beach and Collingwood, by all brokerages and Realtors as reported to the Southern Georgian Bay Association of Realtors (SGBAR).

Wasaga Beach: The 12-month average sales price for a residential-detached freehold ownership home sold in Wasaga Beach is currently $610,827. The value is up +19.75% over February 2020 ($510,072). An increase of $100,755 in one year’s time.

Month over month, the 12-month average sales price has recently been increasing at approximately $10,000 per month since August 2020. The average price in August was $553,839 increased to September was $566,399 in September, to $577,089 in October, $588,738 in November, $596,000 in December, $601,923 in January 2021, and now $610,827 in February.

The average number of days on the market for the homes sold in February 2021 was 23 days in comparison to an average day on the market of 30 in February 2020. If a home is priced right, it is possible to sell a home in less than 1 day. However, most fairly priced homes often consider holding offers to a set day and time which adds to the average days on market during that time period.

Year to date the amount of residential-detached freehold homes sold in Wasaga Beach year over year is up +48.7% at the end of February 2021 over end of February 2020. The month of February completed 34 sales in 2021, up from a total of 26 sales in February 2020 and 19 sales in February 2019.

The average list-to-sell ratio for homes sold in February was 107.2% of the asking price. This the third month in a row to confirm an average sales price over 100% of the asking price in Wasaga Beach.

At this time the market only has approximately just less than 1 (0.85) months worth of listing inventory entering March 2021. This number remains low, confirming a Seller’s market in a number of popular price ranges.

The highest amount of residential-detached freehold ownership homes sold year to date is within the price range of $700,00 to $800,000 with an impressive 17 sales completed. Closely followed by 12 sales $600,000 to $700,000 and a total of 12 sales between $500,000 and $600,000.

Collingwood: The 12-month average sale price for a residential-detached freehold ownership home sold in Collingwood was $809,958 in February 2021. This value is up a total of +33.08% over this time last year ($608,623 in February 2020). This is an impressive increase of $201,335 in only one year’s time. A number that is influenced by both older dwellings and now newer construction homes being built and entering the resale market.

The average number of days on the market was 9 days for the homes sold within the month of February 2021. This number is down from an average of 11 days on the market in January and from the 2020 average of 40. Comparatively, the average number of days on market in February 2020 was 57 DOM and a total of 43 DOM in 2019.

The average list-to-sell ratio is 107.79% of the asking price entering March 2021. This figure is up from the 2020 year average of 98.95% determining less price negotiation taking place due to current market conditions. This is the fourth consecutive month with an average sales price over 100% of the asking price in Collingwood.

A total of 26 residential-detached freehold homes sold in February 2021. This is up from 15 sales in January 2021. Comparatively, this is also up from 17 sales in February 2020, and 24 in February 2019.

At this time the Collingwood market only has approximately one (1) month’s worth of listing inventory entering March 2021. There was a total of 28 active listings on March 1st, 2021, and a total of 26 sales completed in February. This number remains low, confirming a Seller’s market in a number of popular price ranges.

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