The Team at Sea & Ski Realty would like to thank everyone who has followed our real estate market updates.
It certainly has been an interesting year. We had a strong start to the year with good increases for the first three months but then in April, the pause button was hit.
In May the market came back strong. With the pent- up demand from April we were lead into an even stronger summer and fall. We ended the year in December with slower sales. This is due to the holiday season which traditionally harbours a lower number of homes on the market.
Now, let’s take a look back at the Real Estate Market in Grey County.
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Grey County Market Update
Home sales in Grey County totalled 123 units in December, which is a 29% decrease from November, but an 81% increase compared to December of 2019.
Looking at the average home sale price, it is down about 6% when compared to last month, and has increased by 42% since last year.
There were 106 new listings in Grey County in December, which is a decrease of 37% from last month, but a 28% increase on a year over year basis.
The average number of days on market has decreased by another 27% since last month and 57% since last year with properties spending an average of just 30 days on the market in December.
Our Local Communities Market Stats
December brought us the lowest number of homes listed and sold in the Municipality of Grey Highlands for all of 2020. Breaking this down, there was a 33% decrease in the number of properties listed since last month and a 60% decrease when compared to December of 2019. Property sales have seen a 47% decrease when compared to last month and have seen a 22% increase from the same time last year, with the bulk of the sales being in the 6-7 hundred thousand, and 1 million-plus range.
In West Grey, we finished the year the same way we started it with 7 new listings in the months of January as well as in December. The number of new listings is down 40% from last month, and has seen an identical 40% decrease from December of 2019. The number of properties that sold decreased a slight 5% from last month, but increased by 45% when compared to the same period last year. The bulk of the sales were in the 3-4 and 6-7 hundred-thousand-dollar range.
The trend over 2020 in the Municipality of Chatsworth shows that roughly 10-12 homes were sold each month, however, we noted an interesting dip in sales in the months of January, June and December; each holding 5-7 sales. A 25% decrease in the number of new listings was noted from last month, but no change was seen when compared to December of last year. The number of properties sold decreased by 40% since last month but saw a 50% increase when compared to December of 2019. Chatsworth saw the greatest number of sales in the 6-7 hundred-thousand-dollar range.
The Municipality of Meaford was another area that saw the lowest number of new listings in December. On a month-to-month basis, there was a 58% decrease in the number of new listings compared to November 2020. A 44% decrease was also noted when compared to December of 2019. We saw a 28% increase in the number of sales compared to last month and a huge 350% increase on a year-over-year basis. Surprisingly, Meaford offered houses prices mostly in the 1 million-plus range.
Town of the Blue Mountains
When looking at the Municipality of the Town of the Blue Mountains, there has been an interesting decrease of 40% in the number of new listings compared to November 2020 and a 35% decrease from December of 2019. With only 26 sales in December, this month is showing similarities to March of 2020. When comparing December to November 2020, the number of sales is down with a 52% decrease, but still saw a 62% increase compared to the same month last year. Having seen the majority of the sales sit in the 1 million-plus range for most of the year, it’s surprising to note the dip in average sales prices, with the highest majority of sales sitting in the 8-9 hundred-thousand-dollar range.
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