2020 In Review - Tiny Township Market Report

LOCATIONS B R O K E R A G E

TINY TOWNSHIP REAL ESTATE MARKET REPORT

2020 IN REVIEW RECIPIENT OF ROYAL LEPAGE’S BROKERAGE OF THE YEAR AWARD FOR ONTARIO

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OVERVIEW RECORD VOLUME AND UNIT SALES, WITH THE AVERAGE SALE PRICE UP AND LISTINGS DOWN

RECORD ANNUAL SALES VOLUME OF $188,852,434 Up 42% from 2019’s $133,068,788, with units of 297 up 22% from 2019’s 244. New listings of 407 down 23% from 2019, with the sales/listings ratio of 73% up 27%.

RECORD Q4 SALES VOLUME OF $51,850,785 Up 91% from Q4-2019’s $27,144,383. Units of 61 up 24% from Q4-2019’s 49, with new listings of 53 down 21% and the sales/listings ratio of 115% up 42%.

RECORD ANNUAL AVERAGE SALE PRICE OF $635,867 Up 17% from 2019’s $545,364. Average days-on-market of 40 down 5 days.

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS GREATER THAN THE SUPPLY December’s volume and unit sales were both down 36% from 2019’s record totals. The month had a 98.9% sale/list price ratio, up 4.4% from 2019. On average, homes sold in 60 days – identical to December 2019. And there is now just one month of inventory. All that, and December’s 175% sales/listings ratio, add up to a strong sellers’ market.

Graph 1: Tiny Township MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $200,000,000

$188,852,434

$180,000,000 $160,000,000 $140,000,000

$130,807,455

$133,068,788

2018

2019

$120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0

2020

Graph 2: Tiny Township MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 350

297

300

250

251

244

2018

2019

200

150

100

50

0

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

2020

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THE MARKET IN DETAIL Table 1: Tiny Township MLS® Residential Sales And Listing Summary 2018 vs. 2019 vs. 2020

2018

2019

2020

2019-2020

$130,807,455

$133,068,788

$188,852,434

+42%

Annual Unit Sales

251

244

297

+22%

Annual New Listings

489

526

407

-23%

Annual Sales/Listings Ratio

51%

46%

73%

+27%

$22,475,767

$27,144,383

$51,850,785

+91%

Q4 U nit Sales

49

49

61

+24%

Q4 New Listings

88

67

53

-21%

56%

73%

115%

+42%

$458,689

$553,967

$773,892

+40%

$2,454,000

$6,321,000

$4,059,500

-36%

6

11

7

-36%

11

15

4

-73%

55%

73%

175%

+102%

December Average Sale Price

$409,000

$574,636

$579,929

+1%

Annual Sales: Under $300K

50

36

9

-75%

Annual Sales: $300K - $499K

103

100

128

+28%

Annual Sales: $500K - $799K

66

80

105

+31%

Annual Sales: $800K - $999K

11

14

24

+71%

Annual Sales: $1M - $1.499M

12

8

19

+138%

Annual Sales: $1.5M - $1.999M

8

4

5

+25%

Annual Sales: $2M+

1

2

7

+250%

46

45

40

-11%

$521,145

$545,364

$635,867

+17%

Annual Volume Sales

Fourth Quarter (Q4) Volume Sales

Q4 Sales/Listings Ratio Q4 Average Sale Price December Volume Sales December U nit Sales December New Listings December Sales/Listings Ratio

Annual Average Days-On-Market Annual Average Sale Price

NOTE: All MLS® sales data in this report comes from the Southern Georgian Bay Association Of REALTORS® and refers specifically to residential sales as of Jan. 3, 2021.. While deemed to be reliable, Royal LePage Locations North assumes no responsibility for errors and omissions.

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

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THE MARKET IN DETAIL (cont’d) What a year! In our Q2 Report we noted how similar Tiny’s 2020 and 2019 sales years were, despite the influence of COVID-19.

But the similarity ended there. The 2020 market had five record months from July to November that yielded $121,958,446 in sales: 65% of Tiny’s 2020 total and just 8% less than 2019’s former annual record. Unit sales followed a similar pattern: five record months that gave Tiny 58% of its 297 overall sales; and those 297 sales came on 23% fewer listings than 2019. All things considered, homeowners will be happy that 2020’s average sale price of $635,867 was up 79%, 74%, 43%, 22% and 17% from 2015-19 respectively.

Graph 3: Tiny Township Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $35,000,000

2018 2019

$30,000,000

2020

$25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Graph 4: Tiny Township Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 45

2018

40

2019

35

2020

30 25 20 15 10 5

0

Jan

Feb

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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THE MARKET IN DETAIL (cont’d) As Graph 5 shows, 2020 unit sales were up from 2019 in six price ranges and down in one. The $300-$499K, $500K$799K, $800K-$999K, $1M-$1.499M, $1.5M-$1.999M and $2M+ ranges were up 28%, 31%, 71%, 138%, 25% and 250% respectively. The Under-$300K range was down 75%. More generally, the Under-$500K bracket – which accounted for 46% of 2020’s sales – was up 1% from 2019. The $500K-$999K bracket – which accounted for 44% of all sales – was up 95%. And the $1M+ bracket – which accounted for 10% of all sales – was up 121%.

Graph 5: Tiny Township MLS® Sales By Price 2018 vs. 2019 vs. 2020 (Units) 140

2018 2019

128

120

2020 100

103

105

100

80

80

40

2018

66

60

2019 2020

50 36

20

0

24 11

9 Under $300K

$300K-$499K

$500K-$799K

14

$800K-$999K

19 12

8

$1M-$1.499M

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

8

4

5

$1.5M-$1.999M

1

2

7

$2M+

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SALES BY PROPERTY TYPE Graph 6: Tiny Township MLS® Sales By Property Type 2018 vs. 2019 vs. 2020 (Dollars and Units)

2020

2020 IN DETAIL 2020

2020

$21,588,799

127

SINGLE-FAMILY HOMES 2020 DOLLAR SALES : $188,852,434 $21,588,799 UP 42% from 2019 UNIT SALES: 297 UP 23% from 2019

$188,852,434

297 Single Family

Single Family Condominium

2019

Vacant Land

$219,900

Condominium

2019

2019

$5,712,500

Vacant Land

2

AV. DAYS-ON-MARKET: 40 DOWN 4 days from 2019 $188,852,434

AV. SALE PRICE: $635,867 UP 16% from 2019 Single Family

Condominium

2019 Vacant Land

CONDOS/TOWNS $219,900

51

$5,712,500

DOLLAR SALES: 0 DOWN $219,900 from 2019 UNIT SALES: 0 DOWN 2 from 2019

$132,848,888

242

Single Family

Single Family

Condominium 2018

Condominium

Vacant Land

2018

2018

Vacant Land

AV. DAYS-ON-MARKET: 0 $132,848,888 DOWN 89 days from 2019 AV. SALE PRICE: 0 Single Family DOWN $109,950 from 2019

2018

Condominium Vacant Land

$5,725,743

$5,725,743

29

RESIDENTIAL LAND DOLLAR SALES: $21,588,799 UP 278% from 2019 UNIT SALES: 127 UP 149% from 2019

$130,807,455

251

Single Family

Single Family

Condominium

Condominium

Single Family

Vacant Land

Condominium

Vacant Land Vacant Land

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

$130,807,455

AV. DAYS-ON-MARKET: 53 DOWN 17 days from 2019 Single Family

AV. SALE PRICE: $169,991 Condominium UP 52% from 2019 Vacant Land www.locationsnorth.com

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TINY TOWNSHIP AVERAGE SALE PRICES: 2010-2020 HUGE GAINS, BOTH GENERALLY AND RELATIVE TO INFLATION Tiny’s average sale price for single-family homes underwent modest increases from 2010-2014 and then began to climb rapidly in 2015. In 2020 it reached $635,867 — up 16%, 22%, 43%, 74%, 79% and 115% from 2019, 2018, 2017, 2016, 2015 and 2010 respectively., From 2010 to 2014 Tiny’s annual average sale price for single-family homes increased at approximately Canada’s inflation rate. From 2015-2020 the average price rose 84% above the inflation rate.

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000 2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Single-Family Home Average Sale Price: 2010 > 2020 Canada’s Inflation Rate Based On Tiny’s 2010 Single-Family Home Average Sale Price

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

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ROYAL LEPAGE LOCATIONS NORTH IN 2020 OUR 8TH STRAIGHT RECORD-BREAKING YEAR

WE BROKE OUR OWN SOUTHERN GEORGIAN BAY REGIONAL RECORD FOR ANNUAL MLS SALES VOLUME With $604,080,487 – up 91% from 2019 and up over 1000% from 2011

OVERALL WE HAD MORE THAN 4 TIMES THE SALES VOLUME OF OUR CLOSEST REGIONAL COMPETITOR

WE WERE #1 IN THE REGIONAL LUXURY HOME MARKET, WITH 4 TIMES THE UNIT SALES OF OUR CLOSEST COMPETITOR

Locations North Sales Volume, 2011 - 2020

2011 2011 2012 2013 2014 2015 2016 2017 2018 2019

2012

$53,047,171 $89,145,175

Locations North Sales Volume, 2011 - 2019

$96,796,883

2013 2014 2015

$121,934,732

2016

$159,707,227

2017 2018

$215,294,663 $268,894,323 $288,097,462

2019 2020

$316,114,237 $604,080,487

2020

TINY TOWNSHIP MARKET REPORT: 2020 IN REVIEW

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PERSONAL PROFESSIONAL PROGRESSIVE REAL ESTATE SERVICE

At Locations North we do everything we can to put you first. And that includes completely respecting your privacy. If we can ever be of help with your real estate needs, please give us a call or visit our website at www.locationsnorth.com

TINY TOWNSHIP MARKET REPORT:

COLLINGWOOD 705-445-5520

THORNBURY 519-599-2136

330 First St.

27 Arthur St.

CREEMORE 705-881-9005

CRAIGLEITH 705-445-7799

154 Mill St.

209820 Hwy. 26 West.

MEAFORD 519-538-5755

WASAGA BEACH 705-429-4800

96 Sykes St.

1249 Mosley St.

STAYNER 705-428-2800

WASAGA BEACH 705-617-9969

7458 ON-26, #11.

1344 Mosley St. Unit 5.

2020 IN REVIEW

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