WASAGA BEACH REAL ESTATE MARKET REPORT: FIRST QUARTER 2016

WASAGA BEACH REAL ESTATE MARKET REPORT: FIRST QUARTER 2016

Part 1: Market Overview – The Record-Breaking Sales Continue Record-shattering sales volume of $47,411,100, sales units of 151 and average sale price

of $314,179 (up 41.5%, 37.3% and 3.1% respectively over 2015’s previous Q1 records) The record sales came despite 2016’s new listings being down 8.5% from 2015, such that

the sales-to-listings units ratio was a superhigh 58.8%, with expired listings down 39.1%. All this – along with 2016’s many multiple offer situations and average days-on-market

being down 9 days – suggests that the demand for listings GREATLY exceeds the supply.

Table 1: Georgian Triangle MLS® – Wasaga Beach Sales And Listing Summary, First Quarter 2015 vs 2016

2015 2016 Difference % +/-

Sales ($) $33,527,311 $47,441,100 + $13,915,789 +41.5%

Sales (Units) 110 151 +41 +37.3%

Sales: Under $100,000 5 2 -3 -60%

Sales: $100K – $299K 67 71 +4 +6%

Sales: $300K - $499K 31 70 +39 +125.8%

Sales: $500K - $799K 4 7 +3 +75%

Sales: $800K - $999K 1 1 0 0%

Sales: $1M - $1.499M 1 0 -1 -100%

Sales: $1.5M + 1 0 -1 -100%

Average Days-On-Market 83 72 -9 -13.3%

Average Listing Price $313,517 $321,634 $8,117 +2.6%

Average Sale Price $304,739 $314,179 +$9,440 +3.1%

Sale/Listing Price Ratio 97.2% 97.7% +.5% +.5%

New Listings 281 257 -24 -8.5%

Sales/Listings Unit Ratio 39.1% 58.8% +19.7% +19.7%

Expired Listings 64 39 -25 -39.1%

NOTE: All MLS®sales data in this report comes from the Southern Georgian Bay Association Of REALTORS®.

Graph 1: Georgian Triangle MLS® – Wasaga Beach Sales, First Quarter 2015 vs 2016 (Dollars)

Graph 2: Georgian Triangle MLS® – Wasaga Beach Sales, First Quarter 2015 vs 2016 (Units)

Graphs 3 and 4 show that Q1-2016’s dollar and unit sales were up each month over

2015, with a particularly steep spike in February.

Graph 3: Georgian Triangle MLS® – Wasaga Beach Sales By Month, First Quarter 2015 vs 2016 (Dollars)

Graph 4: Georgian Triangle MLS® – Wasaga Beach Sales By Month, First Quarter 2015 vs 2016 (Units)

Graph 5 shows that the majority of sales (93.4%) were in the $100K-$499K price range

and that nearly all (95%) of 2016’s overall unit gains were in the $300K-$499K range.

Graph 5: Georgian Triangle MLS® – Wasaga Beach Sales By Price, First Quarter 2015 vs 2016 (Units)

Part 2: Sales By Property Type Single-family home dollar sales ($44,667,800), units (135) and average price ($330,873)

set Q1 records, up an astounding 57.2%, 48.4% and 6% respectively from 2015. Condominium dollar and unit sales were down 33.1% and 100% respectively from 2015.

However, it is difficult to draw general conclusions based on so few sales. The average sale price of $247,333 was up 33.8%, but this likely reflected the specific condos sold.

In the vacant land market, dollar and unit sales were up 8.1% and 20% respectively, while the average sale price was down 10%. However, in addition to there being comparatively few sales, there are also so many variables involved in vacant land transactions that it is difficult to draw general conclusions.

Overall, the metrics indicate that the demand for listings GREATLY exceeds the supply.

Table 2: Georgian Triangle MLS® – Wasaga Beach Sales And Listing Summary By Type, Q1 2015 vs 2016

2015 2016 Difference % +/-

Single-Family Home Sales ($) $28,408,811 $44,667,800 +$16,258,989 +57.2%

Single-Family Home Sales (Units) 91 135 +44 +48.4%

Single-Family Home Av. Sale Price $312,185 $330,873 +$18,688 +6%

Single-Family Home Av. Days-On-Market 73 69 -4 -5.5%

Condominium Sales ($) $2,218,500 $1,484,000 -$734,500 -33.1%

Condominium Sales (Units) 12 6 -6 -100%

Condominium Average Sale Price $184,875 $247,333 +$62,458 +33.8%

Condominium Average Days-On-Market 110 90 -20 -18.2.%

Vacant Land Sales ($) $656,500 $709,666 +$53,166 +8.1%

Vacant Land Sales (Units) 5 6 +1 +20%

Vacant Land Average Sale Price $131,300 $118,228 -$13,072 -10%

Vacant Land Average Days-On-Market 94 93 -1 -1.1%

Graph 6: Georgian Triangle MLS® – Wasaga Beach Sales By Type, First Quarter 2015 vs 2016 (Dollars)

Graph 7: Georgian Triangle MLS® – Wasaga Beach Sales By Type, First Quarter 2015 vs 2016 (Units)

As to whether Wasaga Beach’s record, first quarter sales will continue throughout 2016, time will tell. Please stay tuned as we provide both Wasaga Beach Quarterly Reports and Georgian Triangle Monthly Reports in order to help you make better-informed real estate decisions.

Royal LePage Locations North In 2015

2015 was yet another record-breaking year for Royal LePage Locations North. We:

Broke our own Georgian Triangle record for annual MLS sales (set in 2014) with just under $160,000,000 – up 31% from 2014 and more than tripling our 2011 sales!

Sold 47% more real estate than our nearest competitor

Were #1 in each of our primary markets – Collingwood, The Blue Mountains, Thornbury and Meaford (we only opened our Wasaga Beach office in June, 2015)

We couldn’t have done all this without the trust that our clients have placed in us. SO A BIG THANK-YOU to EVERYONE! We look forward to serving you when you decide to buy or sell.

* – ‘Units’ refers to the combined number of Listing and Selling Sides

* – ‘Units’ refers to the combined number of Listing and Selling Sides

We Give YOU Options At Locations North, we do everything we can to put YOU first – and that includes respecting your privacy by enabling you to choose your level of engagement. Please check out our video to see how we do it. Collingwood Office

330 First St., Collingwood ON 705-445-5520 Thornbury Office

27 Arthur St., Thornbury ON 519-599-2136 Meaford Office

96 Sykes St. Meaford, ON 519-538-5755 Wasaga Beach Office

1288 Mosley St., Unit 7 Wasaga Beach, ON 705-617-9969 Creemore Office

143 Mill St. Creemore, ON 705-881-9005