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Ron and Jane’s Real Estate Blog
Get the inside scoop of what is going on in the real estate world in the Southern Georgian Bay area.
WASAGA BEACH In the month of January, we saw the average sale price for a detached-freehold home reach $809,412. The average number of days on market in January was 9 days. The average list-to-sale ratio in January was 110.1% of the asking price. A total of 37 sales...
At this time, we are pleased to provide you with a year end real estate report.
All information provided in the report 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 Lakelands Association of Realtors. Wasaga Beach: The 12-month average sales price for a residential-detached freehold ownership home sold in Wasaga Beach is currently $795,098. The value is up +33.4% over December 2020 ($596,000). An increase of $199,098 in only one year’s time.
Month over month, the 12-month average sales price had increased at approximately $20,000 per month from February 2021 to September 2021. This softened from September to October (+13,790), October to November (+$6,331), and November to December (+$7,942).
The average number of days on the market for the homes sold in December 2021 reduced to 17 DOM. This was lower than an average of 27 days on market in November and 19 in October. And in comparison, last year in December 2020 the average days on market was 39 DOM, more than double the time period to sell a home on average.
The total number of residential-detached freehold homes sold in Wasaga Beach throughout 2021 was down -8.1% from last year at the end of December. There was a total of 585 unit sales reported at the end of 2020 over a new total of 541 units sold at the year-end in 2021. The month of December 2021 completed 25 sales, only down by 4 from the 29 sales completed earlier in November 2021. Last year in December 2020 there were 31 sales completed in comparison to the 25 sales (-6) in December 2021.
The average list-to-sell ratio for homes sold in December was 104.6% of the asking price. The average month-to-month increase in 2021 was 103.36% up from a year-end average of 99.02% in 2020.
At this time the market only has approximately half of one (0.6) month’s worth of listing inventory entering January 2022. This number remains low, confirming it is still a Seller’s market in a number of popular price ranges. There was only a total of 16 active detached homes for sale in Wasaga Beach on January 1st, 2022, and there was a total of 25 sales in the month of December.
The highest amount of residential-detached freehold ownership homes sold in 2022 was within the price range of $700,000 to $800,000 with an impressive 123 sales completed. Followed by 103 sales $600,000 to $700,000 and a total of 79 sales between $800,000 and $900,000. Notably, there was been a total of 71 sales in 2021 between $1M and $2M which is more than triple the year-end total of 20 sales reported within the same price range in all of 2020. There were also 5 reported sales over $2M in 2021.
Collingwood: The 12-month average sale price for a residential-detached freehold ownership home sold in Collingwood was $1,007,560 in December 2021. This value is up a total of +29.96% over this time last year ($775,258 in December 2020). This is an impressive increase of $232,302 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 25 days for the homes sold within the month of December 2021. This number is up from only 15 days on average in November, but down from 30 days on the market in October 2021. The average days on market for all of 2021 was 17 days over the 12 month period.
The average list-to-sell ratio was 100.5% of the asking price in December 2021. This figure is up from the 2020 year average of 98.95% determining less price negotiation taking place due to current market conditions. The average for all 12 months in 2021 was 103.5% of the asking price.
A total of 17 residential-detached freehold homes were sold in December 2021. This is down from 25 sales in November 2021 and down from 31 sales in October 2021. Comparatively, there was a total of 15 sales in December 2020 last year, which is comparable to 2021.
At this time the Collingwood market has approximately 0.6 month’s worth of listing inventory entering January 2022. There was a total of 10 active/conditional detached homes for sale on January 1st, 2022, and a total of 17 sales completed in December.
Marketshare: Based on the offices geographically located within Wasaga Beach, RE/MAX BY THE BAY Brokerage continues to dominate the local real estate sales activity and volume with an impressive 66.4% market share at the year-end total production for 2021. Our next singular competitor in Wasaga Beach would need to increase their business by almost 294% to match RE/MAX’s production.
RE/MAX BY THE BAY Brokerage continues month over month, year over year, to be Wasaga Beach’s most productive agents.
The last two years have seen unprecedented challenges for all of us. The pandemic has caused people to work from the home office and move further away from the big city, Toronto.