July Market Report
Sales Activity:
In the Month of July 2023, there were a total of 164 residential unit sales reported in Lakelands West (The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, and Wasaga Beach). The number of sold units decreased from the previous month (214 Unit Sales in both June & May 2023) and has increased by +49% from the same time last year (110 unit sales in July 2022).
The reported decrease in “unit sales” entering summer is comparable to annual trends pre-pandemic.
Inventory:
The number of new listings in July 2023 (388 new listings) increased by +2% in comparison to July 2022 (380 new listings) in all of Lakelands West areas. And month to month, the number of new listings decreased by +28% from the previous month of June 2023 (537 new listings).
The reported decrease in “new listings” entering summer is comparable to annual trends pre-pandemic.
Value:
The average sale price year to date in July 2023 for all of Lakelands West was $860,614 for a residential residence (all residential). This value remains very comparable to the previous month of June 2023 ($860,066). In comparison to previous years, the average year-to-date sales price in July 2023 ($860,614) is -14.5% below July 2022, however, +2.7% higher than July 2021, and +38.8% higher than July 2020.
Collingwood concluded a small increase (+1.45%) from June to July 2023. Although most municipalities are simply maintaining value or small decreased adjustments.
Inventory slowed down entering July, however, in comparison to the decrease in unit sales entering July (summer), the ratio had lowered the absorption rate in most municipalities.
Attached to this update you will find a detailed report providing the average monthly, year-to-date, and 12-month average sales price for a number of the local areas.
Your GO TO Team remains available to provide additional information and to meet all your real estate needs. Please call, text or email us today!
Please click the following link to view the entire Market Report for this month: REMAX_MarketReport_JULY-2023
