November 2020 Market Report

Southern Georgian Bay November 2020 Market Report

The demand for listings is currently much greater than the supply. As well, November’s volume being up 90% from 2019’s record, its units were up 11% from 2016’s former benchmark.The month also had a high 98.9% sale/list price ratio; homes sold 16 days faster on average than a year ago; and there is now just one month of inventory. All that, and November’s 104% sales/listings ratio, add up to a strong sellers’ market.

 

November saw the Southern Georgian Bay’s sixth straight HUGE record month. Volume of $149,893,476 gave the
region a whopping $1,245,707,200 in sales since June. To put it in perspective, that’s 23% more volume in six months
than in all of 2019’s former annual record! Who could’ve imagined in the depths of April’s market that by November the
year’s volume sales would be up 55% from 2019’s record? That said, 2020’s units of 2301, while up 25% from 2019,
are down 5% from 2016’s benchmark 2423. The best news for homeowners will be the regional, year-to-date,
average sale price of $681,668. It’s up 99%, 73%, 42%, 37% and 24% from 2015-2019 respectively.

 

Unit sales are up from 2019 in five price ranges and down in two. The $500K-$799K, $800K-$999K, $1M-$1.499M, $1.5M-$1.999M and $2M+ ranges are up 48%, 106%, 138%, 140% and 308% respectively.The Under-$300K and $300K-$499K ranges are down 34% and 6% respectively. More generally, the Under-$500K bracket – which accounts for 39% of 2020’s sales – is down 12% from a year ago. The $500K-$999K bracket – which accounts for 47% of all sales – is up 57%. And the $1M+ bracket – which accounts for 14% of all sales – is up 155%.

November 2020 Sale By Property Type

November 2020 Southern Georgian Bay Market Snapshot

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