Real Estate Market Report November 2022

In Wasaga Beach, there was a total of 29 residential sales reported in November, in comparison to 31 in October and 36 in September. The lowest number of monthly sales in Wasaga Beach was in August at 26 unit sales.  Overall, the month of November performed very well in comparison to previous months and past seasonal averages.

In The Blue Mountains, there was a total of 21 residential unit sales reported in November. This was the highest number of unit sales since June 2022 at 25 unit sales.

Inventory:

Inventory has, unfortunately, been on the decline throughout the fall but be assured that is normal for this time of year as well. More relevant is the absorption rate as this helps us determine if the real estate market is favoured to buyers, balanced, or to sellers at any point in time. The calculation simply reviews the number of monthly sales in comparison to the total number of active listings (standing inventory). The current absorption rate for all of Lakelands West is 16% confirming we are still within what is considered a “buyers market” at the moment.

Value:

The year-to-date residential average sales price declined by -0.88% in both Collingwood and Wasaga Beach from October to November 2022. And a decrease of -1.29% in Clearview.

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_NOVEMBER-2022