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Georgian Triangle Market Update May 2018

Posted by Admin on June 18, 2018

MAY 2018 Southern Georgian Bay 

  • Residential sale numbered 320 in May, down -32.6% from a record setting May 2017.
  • Year to date residential sales are down 32.3% from same period in 2017.
  • Sales $ volume of all residential transactions in May 2018 was $158.5 million, down – 27.5% from record-breaking levels in 2017.
  • Western region home sales are down 32.6% and 28.3% year to date from 2017.
  • There were 667 new residential listings in May 2018, a decrease of -14.9% on a year-over-year basis, and the lowest level of new listings in the month of May since 2003.
  • Months of inventory numbered 3.3 at the end of May 2018, up from the 2.1 months recorded at the end of May 2017 but still well below the  average of 7.5 months.

While sales activity was below average levels in May, supply was extremely low so it is difficult to know if sales are down due to low supply or current market trends.

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