December Market Report
Sales Activity:
In the Month of December 2023, there were a total of 63 residential unit sales reported in Lakelands West (The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, and Wasaga Beach). The number of sold units is down from the previous month (101 Unit Sales in November 2023) and down from the number of sales during the same month last year (85 unit sales in December 2022).
Inventory:
The number of new listings in December 2023 (178 new listings) for all of Lakelands West areas increased by +52% in comparison to the same time last year in December 2022 (117 new listings). And month to month, the number of new listings decreased by -47% from the previous month of November 2023 (336 new listings). The monthly decrease was expected based on seasonal averages during the holiday season and end of the calendar year.
Another important statistic to note is the current “absorption rate” for each municipality. This calculates the number of reported unit sales in a month in comparison to the total number of active listings. For example, there was a total of 14 unit sales in Wasaga Beach throughout December 2023 and a total of 181 active listings at the end of the month entering January. The current absorption rate for Wasaga Beach is approximately 12.9% indicating that the market at large is still a “buyer’s market” at this time. This also concludes that approximately 87.1% of sellers unfortunately did not successfully complete a sale in the month of December 2023.
Included below is a list of current absorption rates (rounded) for the local municipalities:
- The Blue Mountains: 13%
- Clearview: 15%
- Collingwood: 9%
- Georgian Bay Township: 5%
- Grey Highlands: 13%
- Meaford: 21%
- Tiny Township: 9%
- Wasaga Beach: 13%
Value:
Clearview: 96.0%
Collingwood: 96.0%
Georgian Bay Township: 101.3%
Grey Highlands: 93.4%
Medford: 94.0%
Tiny Township: 96.1%
Wasaga Beach 96.2%
