REAL ESTATE MARKET REPORT | DECEMBER 2021
Southern Georgian Bay Area

Lakelands Central:

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. 

Lakelands West:

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:

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.

Penetang:

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.

Tay:

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:

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.

Springwater:

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.

Oro-Medonte:

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. 

Orillia:

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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