Real Estate Market Report April 2023

In the Month of April 2023, there were a total of 165 residential unit sales reported in Lakelands West (The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, and Wasaga Beach). The number of sold units increased by +26% from the previous month (131 Unit Sales in March 2023), and down -19% from April last year (204 unit sales in April 2022).

In recent years the highest reported monthly sales had been concluded in the month of March. This was unusual as historically March was a month of transition where sales noticeably increased from January and February but was still slightly lower than the spring market. In 2023, April exceeded March unit sales and reflected a more “normal” year-over-year pattern once again. If this trend continues May and June will potentially perform at similar numbers as April, May, and June had traditionally reported the highest number of unit sales in the calendar year.

The Town of Blue Mountains was one of the few areas that concluded a decrease in sales and an increase in new listings from March to April this year. The number of unit sales decreased -18% from 28 in March to 23 in April. And in comparison, the number of new listings increased +14% from 65 in March to 74 in April.

Inventory:

The number of new listings in April 2023 (392 new listings) was down in comparison to April 2022 (-7.8%) in all of Lakelands West areas. And month to month, the number of new listings increased by +12.3% from March to April 2023.

The number of monthly “unit sales” and the total number of “active listings” has slowly been improving the absorption rate for most municipalities in Southern Georgian Bay. The current average for most local areas at the end of April 2023 was 21.38%. While this is still statistically considered a buyer’s market, the numbers are notably shifting back to finding balance.

Value: