Welcome to Summer!
This area has so much to offer during the summer months; I hope you take advantage of Georgian Bay, nearby Lakes, Rivers, Trails, Events, Patios and Backyards over the next few months. Let me know if you need any recommendations :)
Regarding our area's June real estate market, Spring did not spring this year, and June sales are down. This past month, the Southern Georgian Bay/Lakelands West Area, which includes Wasaga Beach, Collingwood, Clearview, The Blue Mountains (Blue Mountain & Thornbury), Meaford, and Grey Highlands, saw sales activity drop by 31% compared to last year. With weak buyer demand, the number of homes for sale has increased by 46%, and there are now 7.3 months of inventory year-to-date. The year-to-date sales activity is the lowest it has been over the past ten years. The June average sale price is down 11% from last year, but the year-to-date average sale price is still sitting similar to last year.
However, it is not all negative. If you are a Buyer, there are opportunities to find good value. If you are a Seller, don't worry; sales are still happening, but presentation and strategy are important.
Historically, the real estate market tends to slow down in July and August and picks back up in the fall. If you are considering moving, please reach out so we can ensure you are set up and ready to take advantage.
It will be interesting to see if the Bank of Canada's further rate cuts increase buyer confidence. Future announcements for 2024 are July 24, September 4, October 23, and December 11.
Detailed Market Reports are available for Wasaga Beach, Collingwood, Clearview, The Blue Mountains (Blue Mountain & Thornbury), Meaford, and Grey Highlands; please reach out if you would like a copy.
All the best,
Lee Ann