What a strange month March proved to be. Bucking past years, there were actually fewer new listings in March compared to February and, there were fewer sales in most areas (except Collingwood) as well as demand continues to outstrip supply. The months of inventory still available declined. Here is a snapshot of the residential real estate market in Southern Georgian Bay for March 2019. Sales were strongest again in Collingwood with the number of unit sold up 17.6% year-to-date over 2018 and a significant 36.4% higher than in March of last year.
We continue to see strength in the market and every day brings a new high in pricing. Investors are back in the hunt and people are sensing stability now in interest rates. Of course, lower-priced properties still garner the most activity and ones priced under $400,000 sell quickly in most areas.
Our district encompasses diverse communities with substantially different market forces. To understand your areas of interest, you really need to look in more details which you can find in this month’s report. To download a full copy broken down into the six key areas we serve, see Western District (March 2019).
Data provided by the Southern Georgian Bay Association of REALTORS® MLS® statistics