REAL ESTATE MARKET REPORT | DECEMBER 2021Southern Georgian Bay AreaLakelands Central:In December of 2021, the Lakelands Central area (which includes Midland, Penetanguishene, Tiny, Tay, Springwater,
December 2021's Real Estate Market Report
Dated: January 10 2022
REAL ESTATE MARKET REPORT | DECEMBER 2021
Southern Georgian Bay Area
In December of 2021, the Lakelands Central area (which includes Midland, Penetanguishene, Tiny, Tay, Springwater, Oro-Medonte, Orillia, and Ramara) saw an incredible 26.3% increase in the average residential home price from the previous year. The average sale price now sits at $823,520.
The area saw a 9.2% decrease in new listings and a substantial 23.7% decrease in the number of homes sold for the month compared to 2020’s numbers. Lakelands Central continues to remain a very strong seller's market, with 0.7 months of available inventory, with a median of 10 days on market.
When comparing December 2021 to December 2020, the Lakelands West area’s average sale price was up by 14.3%, resulting in an average residential home sale price of $964,753.
The number of homes sold was up slightly with 145 properties sold; however, the number of new listings was down 4% from the previous year. The Lakelands West Market (which includes Clearview, Collingwood, Grey Highlands, Meaford, The Blue Mountains, and Wasaga Beach), remains as a seller’s market with just 1 month of available inventory with a median of 14 days on market.
Midland’s Real Estate market finished out 2021 in a very strong seller’s market; with less than a month of available inventory. The number of new listings and properties sold were down 33.3% and 41.7% respectively from December 2020’s numbers.
Residential home prices were up slightly with a 9.7% increase from the previous year, resulting in an average sale price of $542,531. At this time listings have a median of 11 days on the market.
In December 2021, the town of Penetanguishene saw a slight decrease in residential home prices from a year ago; the average sale price now sits at $738,857.
Penetang remains a very strong seller's market, with an incredibly low 0.1 months of available inventory. The town saw only 5 new properties listed, and 7 sold in December. Home’s remain on the market for a median of 6 days at this time.
The township of Tay’s residential home prices are up slightly from 2020. December’s average price was $598,288, which is just 5% higher than last year, but down from the previous month. Tay saw a large decrease in the number of new listings and properties sold, down 28.6% and 44.4% respectively. With only one month of available inventory, Tay remains in a strong seller’s market; properties selling in a median of 8.5 days.
Tiny township saw an incredible 63% increase in the average sale price when comparing December 2021 to the previous year; an increase of over $368K.
The number of residential homes sold increased by 70% and new listings were up from 8 in December 2020 to 14 in 2021. Demand remains strong, with only 0.8 months of inventory, and a median of 14 days on market, the area continues to be a seller's market.
In December of 2021, Springwater township saw a substantial 51.9% increase in the average residential home price from the previous year, resulting in an average sale price of $1,367,167.
The area saw a 36.8% decrease in new listings and a 47.8% decrease in the number of homes sold for the month compared to 2020’s numbers. Springwater continues to remain a very strong seller's market, with 1.1 months of available inventory, with a median of 11 days on market.
When comparing December 2020 to this year, Oro-Medonte had a notable 14.8% increase in residential prices. The average sale price for the month was $1,070,569.
Residential home sales and new listings were down, with a decrease of 35% and 33.3% respectively. At this time Oro-Medonte is a strong seller’s market with 1.2 months of inventory and an average of 12 days on market.
The city of Orillia’s real estate market is very strong! December 2021 saw an increase in new listings by 27.6% in comparison to 2020. There was a very slight 2.7% decrease in sales, which resulted in 36 residential home sales for the month.
The average residential home price was up 40.7% from December 2020, an increase of over $204K. With only 0.4 months of inventory and listings remaining on the market for a median of 6.5 days, it is an incredible time to sell in Orillia!
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Jim Hawke – Broker of Record, and Michele Hawke – Accounting & Deal Clerk I would like to take this opportunity to introduce the founding members of Team Hawke Realty. Jim Hawke started his real....