November Market Report
There was a total of 105 residential unit sales reported in Lakelands West (The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, and Wasaga Beach) in November 2022. This was the lowest number of monthly unit sales, however, some municipalities such as The Town of Blue Mountains and Wasaga Beach have maintained momentum throughout the fall.
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.
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!