Wasaga Beach 2016 Real Estate Sales Figures; September Update
September Sales To Listing Ratio 123% !!!
I’ve highlighted the sales to listing figure as 2 factors are driving the busy Wasaga Beach real estate market:
- Out of town buyers.
- Low inventory.
It’s basic maths: there are more buyers than homes for sale. This wasn’t just one months market, the sales to listings figure for 2016 is 83%.
In 2015 it was 63% and 2015 43%. As little as 2 years ago roughly half as many homes sold as compared to listings.
One reason for the low inventory is residents in Wasaga Beach cannot find a home to move to. If they don’t “need” to move they do not list.
In 2016 so far there have been 15% less homes listed. The number of homes sold is up 23.5%.
Out of town buyers generally see very good value here and buy very quickly. They tend to “need” to buy.
A consequence is rising prices with the average 12 month home price in Wasaga Beach siting at $339,985. Up 10% on 2015.
The key figures for September 2016 in Wasaga Beach are below.
They should be studied if buying or selling a home and discussed with your REALTOR®.
Key figures for September:
58 homes sold.
47 new listings.
Sales to listing ratio 123%
97.89% of listing price achieved.
Average days on market 52.
Year To Date:
546 homes sold.
661 new listings.
Sales to listing ratio 83%
98.17% of listing price achieved.
Average days on market 47.
Average Sale Price September 2015 -September 2016 $339,985.
Average Sale Price September 2014 -September 2015 $308,674.
The above statistical results are from the MLS® System of the South Georgian Bay Association of REALTORS® for the sale of single family homes.