After a fairly strong Q1, Q2 volume sales reported by the Southern Georgian Bay Association of Realtors were well below the last two record years. Q2 volume was closer to Q2-2015 than Q2-2016, despite its average sale price being up 48% from Q2-2015.
Though 2018’s dollar and unit sales are down from 2017, YTD new listings are also down 5% and the average days-on-market is only up 2 days. As well, April’s new listings were down a big 25%, such that its high 74% sales/listings ratio equaled last April. So we’re definitely in a sellers’ market.
February saw slumping sales, with the sales/listings ratio dipping below 50% for the first time since 2015. And yet, homes sold 13 days faster on average than one year ago. It’s too early to tell if we’re entering a balanced market, so tentatively we’ll say that we’re in a slowing sellers’ market.