By: Philip Grainger

Wasaga Beach and Collingwood
Feb. 2021 Market Report

 WASAGA BEACH

In the month of January, we saw an impressive milestone in Wasaga Beach with average sale price for a detached-freehold home surpass $600,000 for the first time ever.

Now, the data for the month of February is in and we continue to build on last month’s momentum.

The 12-month average sale price for a freehold-detached home, sold in Wasaga Beach, is now $610,827. Compared to February 2020’s average sale price of $510,072, this represents a 19.75% increase in value. If we look at the sold data on a month-over-month basis, we see an approximate increase of $10,000/month, dating back to August 2020.

The average number of days on market in February was 23.

The average list-to-sale ratio in February was 107.2% of the asking price. This is the third month in a row that the average sale price has been over 100% of the asking price.

The highest number of detached-freehold homes sold is within the $700,000 to $800,000 range with an impressive 17 sales completed year-to-date.

COLLINGWOOD

The 12-month average sale price for a freehold-detached home, sold in Collingwood, is now $809,958. Compared to February 2020’s average sale price of $608,623, this represents and incredible 33.08% increase in value. This increase is being influenced by both older dwellings and now newer construction being built and entering the resale market.

The average number of days on market in February was 9. To understand just how hot Collingwood’s market is, in February 2020, the average days on market was 57.

The average list-to-sale ratio in February was 107.79% of the asking price. This figure is up from the annual average for 2020, which was 98.95%. This is the fourth consecutive month that the average sale price has been over 100% of the asking price.

A total of 26 freehold-detached homes were sold in February, up from 15 sales in January.

CONCLUSION

With such low level of inventory, we know that we are still in a sellers' market. There is absolutely no doubt about that. Wasaga Beach has approximately 0.85 month's worth of inventory and Collingwood has approximately 1 month's worth of inventory, entering March 2021. Remember that properly priced supply is still proving to be the most successful driving force behind high multiple offer situations, which translates into high, above ask purchase prices.

MARKETSHARE

Based on our offices georgraphical location, RE/MAX of Wasaga Beach Inc., Brokerage continues to dominate the local real estate market. Sales activity and volume represents an impressive 65% worth of marektshare. Out next single competitor would need to increase their business by roughly 188% to match RE/MAX's production.