June Market Report
Sales Activity: Sales Activity (unit sales) in Southern Georgian Bay has been on the decline since March 2022.
Comparatively in Wasaga Beach, there was a total of 42 residential sales reported in June.
In May, Collingwood reported its highest number of monthly sales year to date at 57 units. The month of June concluded the lowest number of reported sales year to date at 31 units. This was a notable contrast between the two months consecutive months.
After a couple of years of historically low inventory, a healthy number of new listings and inventory has been entering the market each week for buyers. Within Wasaga Beach (4), Collingwood (5.3), the Town of the Blue Mountains (4), and Clearview Township (7.5), the months of inventory have increased to an average of 5.2 months at this time. In addition to inventory, the average days on market have increased, the number of multiple offers and sales to list ratio has decreased, and there is an increase in reported conditional sales. The increase in standing inventory, fewer multiple offer situations, and seller’s willingness to negotiate and accept conditions, have all been a warm welcome for buyers this spring.
Value: The average sales price continued to increase in Wasaga Beach, Town of the Blue Mountains, and Clearview in the month of June based on the “monthly average”, and “12-month average” sales price. However, the “year-to-date average” is showing a small decrease in all municipalities with the exception of Clearview. Typically the “12-month average” is the most consistent reflection of the market at large.
Please see the attached reports and contact your GO TO TEAM for further information.