Southern Georgian Bay May 2020 Market Report
Yet another month has come and gone as we all continue to navigate through COVID-19 and though we are seeing less volume of sales than unusual for the month of May, activity in the market has certainly picked up!
Despite the sales volume decrease of 33% for May 2020 to $77,681,650 and units down to 131 in comparison to the 222 units we saw in May of 2019, we are seeing the return of confidence to the consumer! Though the May 2020 units may still be lower than the previous year, when comparing to April 2020’s mere 67 units, this is quite the jump!
Keeping on trend the average sales price has increased 9% in comparison to 2019, with the average sale price being $585,102.
Much like April we are still seeing the demand become less than supply. Despite the bounceback in both units and volume there was a 46% sales/listing ratio meaning we are still in a buyers market.