Overview: Monthly, Q3, And Annual Sales Records Set In September
Brought to you by, Royal Lepage Locations North & The Signature Sold Team
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!
Regarding units, as Graph 2 shows Q3’s record 809 were up 14% from 2015 while September’s 243 were down 2% from last year’s record. However, September still had its share of multiple and overprice offer situations, partly due to new listings being down 26% from one year ago.
NOTE: All MLS® sales data in this report comes from the Southern Georgian Bay Association Of REALTORS® and the REALTORS® Association of Grey Bruce Owen Sound.
Regarding the average sales price, the Georgian Triangle’s year-to-date figure of $371,168 is up a very happy 10% from September of last year. These numbers all indicate that the regional demand for listings still GREATLY exceeds the supply.
The Market In Detail
As Table 1 shows, 2016’s volume and unit sales translate directly into the main market metrics.
YTD sales are up from 2015 in all price ranges except the $100K-$299K range, where they are down 1%. The entire $300K+ range is up 39%, with particularly big gains of 35%, 48%, 50% and 130% in the $300K-$499K, $500K-$799K, $800K-$999K and $1.5M+ ranges respectively. Even the under $100K range – which is usually down with each passing year – is up 16% from 2015.
Regarding the demand for new listings: September’s, Q3’s and 2016’s sales-to-listings ratios of 83%, 87% and 66% respectively are all way up from 2015. At the same time, September’s, Q3’s and 2016’s expired listings are down 48%, 40% and 36% respectively. Together with 2016’s record sales, this combination of higher sales-to-listing ratios and fewer expired listings also indicates a very big demand for new listings.
Do you want to know more? Click here to view our full PDF copy of the Market Statistics for the Georgian Triangle Quarter 3. You can sign up by clicking here to have a copy of the local area statistics sent to you each month & quarter once they are compiled. Its great knowledge in a growing marketplace. Whether you are buying or selling this is fantastic information to have on hand.
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