January 15, 2018

Sales Volume up from 2016's record, Unit Sales Down, Average Sale Price Up!

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Inventory was low in 2017 with new listings down 12% over 2016 and given that unit sales were down by 14%, this meant that sale prices were much higher. Sales volume of $1,091,083,762 was up 5% from 2016’s previous record which translated into an increase of the average sale price of 22%.

Plus our local market is showing a resilience from the current conditions in the GTA. See the attached report where the author writes that although our market slowed in Q3 and Q4, unlike the GTA our listings inventory did not climb steeply but remained at shortage levels; and our average sales price did not fall 25% from the Spring, but actually rose. In short, unlike the GTA we are still looking at a sellers’ market with healthy demand, making our local market still attractive to investors.

January 13, 2017

Sales Top $1 Billion For First Time – On Far Fewer Listings!

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The Georgian Triangle market, which not long ago viewed $500 Million in sales as a great year,

surpassed $1 Billion with $1,037,827,103 in sales for 2016. That’s a big 29% more than 2015’s

prior record of $804,882,436 and a whopping 56% more than 2014’s $666,340,488, which had

also been a record. Unit sales of 2750 were up 15% and 32% from 2015 and 2014 respectively.

That said, 2016’s sales came on 9% fewer listings than 2015 and 23% fewer than 2014. To top

it off, the region’s average sales price of $377,392 was up 12% and 18% from 2015 and 2014

respectively, in part due to the record number of multiple and overprice offers we saw in 2016.

Additionally, December gave us the region’s 33 rd consecutive record month for sales volume.

Well, September was certainly a month of milestones for the Georgian Triangle market . . . 

The month’s sales of $94,340,667 were up 18% from last September’s record, as well as up 39% from September 2014. And as Graph 1 shows, Q3’s sales of $311,472,326 – while slightly less than Q2’s all-time quarterly record – were up 31% from 2015’s prior Q3 record, and also up 50% from 2014. Lastly, 2016’s YTD sales of $811,744,436 surpassed 2015’s previous annual record of $804,882,436, thus keeping the regional market on track for its first $1 Billion year!

Q2 Sales Up 37% From Last Year, Record Sales For June
Well, it was another big sales month and quarter for the Georgian Triangle real estate market.
June’s sales of $111,737,695, while just under May’s all-time record, set a new June record, up 27% from last year. Year-to-date sales topped $500 Million for the first half of 2016, suggesting that we might hit $1 Billion in annual sales for the first time.
 

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