The summer real estate market continued to show signs of balance throughout July, with buyers and sellers remaining active across Midland, Penetanguishene, Tiny Township and Tay Township.
One of the most interesting things we’re seeing is that while average sale prices moved around from community to community, benchmark prices remained relatively stable, suggesting that the underlying market is holding fairly steady. At the same time, inventory eased in most areas, while sales activity increased significantly in Midland and Tiny Township.
Interest rates also remained unchanged, with the Bank of Canada holding its overnight rate at 2.25% in July.
So, what does all of this mean for our local market? Let’s take a closer look.
Midland
Midland saw a noticeable increase in sales activity during July, with 24 properties sold, up from 18 in June. At the same time, the number of active listings remained steady at 186, while 76 new properties came to market during the month.
The average sale price was $616,659, down from June’s $666,831. While that may initially look like a significant drop, average prices can fluctuate considerably depending on the types of properties that sell in any given month.
The benchmark price tells a slightly different story. Midland’s July benchmark came in at $497,600, up 1.02% from the previous month, suggesting that the broader market remained relatively stable.
Homes sold for an average of 96.5% of their asking price, while the median time on market was 40.5 days.
Overall, July was an encouraging month for Midland, with stronger sales activity and a healthy amount of choice still available for buyers.
Penetanguishene
Penetanguishene remained steady through July, with 14 properties sold, matching June’s sales activity.
The average sale price was $563,000, compared with $606,429 in June. Again, the change in average price is largely influenced by the mix of properties that sold during the month rather than necessarily indicating a major shift in overall market values.
The benchmark price was $542,100, down just 0.84% from the previous month, reinforcing the picture of a relatively stable market.
There were 88 active listings and 42 new listings during July, giving buyers a good selection of properties. Homes sold for an average of 96.6% of their asking price, with a median of 25.5 days on market.
For buyers, Penetanguishene continues to offer choice and negotiating opportunities, while sellers with well-priced properties are still finding success.
Tiny Township
Tiny Township was one of the standout communities in July.
33 properties sold during the month, a significant increase from the 22 sales recorded in June. That represents a 50% increase in sales activity month over month.
The average sale price also increased to $858,918, up from $828,636 in June. Tiny continues to be one of our region’s strongest higher-priced markets, particularly for waterfront, rural and lifestyle properties.
Interestingly, the benchmark price was $592,300, down just 1.12% from June. This highlights why looking beyond average sale prices is so important. The average can move significantly based on which properties happen to sell, while the benchmark provides a better indication of the underlying market.
There were 226 active listings and 91 new listings throughout July, while properties sold for an average of 94.1% of their asking price. The median time on market was 32 days.
With sales activity climbing and inventory remaining relatively healthy, Tiny continues to attract buyers looking for the lifestyle opportunities that make the township so unique.
Tay Township
Tay Township experienced a little less sales activity in July, with 20 properties sold, compared with 24 in June.
The average sale price came in at $566,165, down from $596,871 in June. However, the benchmark price remained remarkably steady at $522,700, just 0.11% below the previous month.
Inventory also eased, with 145 active listings compared with 160 in June, while 55 new listings came to market.
One of the strongest numbers in Tay was the 98.2% sale-to-list price ratio, the highest of all four communities. That tells us that buyers are still willing to pay very close to asking price for the right property.
The median time on market was 25 days, showing that appropriately priced homes can still move relatively quickly.
The Big Picture
July continued to reinforce the idea that our local real estate market is becoming more balanced and more predictable.
There are several things that stand out:
Benchmark prices remained stable. Across all four communities, month-over-month benchmark price changes were relatively small, ranging from a 0.11% decrease in Tay to a 1.12% decrease in Tiny, with Midland actually increasing by 1.02%.
Sales activity strengthened in some key markets. Midland saw sales increase by 33%, while Tiny Township jumped by 50%.
Inventory eased in three of the four communities. Active listings decreased in Penetanguishene, Tiny Township and Tay Township, while Midland remained unchanged.
Buyers are still negotiating, but well-priced homes are selling. Sale-to-list ratios ranged from 94.1% in Tiny to an impressive 98.2% in Tay.
Properties are taking time to sell. Median days on market ranged from 25 days in Tay to 40.5 days in Midland, giving buyers more opportunity to take their time and make informed decisions.
The overall picture is one of a market that has moved away from the frantic pace we experienced in previous years, but is certainly not standing still.
What Buyers & Sellers Should Watch in August
As we move toward the end of summer, the market continues to offer opportunities on both sides of the transaction.
For buyers, increased choice and more reasonable timelines can make it easier to find the right property without feeling pressured to make a decision overnight.
For sellers, the message remains fairly consistent: pricing matters. The July numbers show that buyers are willing to pay strong prices for the right property, but homes need to be positioned correctly from the beginning.
With the Bank of Canada maintaining its overnight rate at 2.25%, borrowing costs also remain relatively stable heading into August.
Whether you’re thinking about buying, selling, investing or simply wondering what your home might be worth in today’s market, understanding what’s happening in your own community is more important than ever.
Every neighbourhood tells a slightly different story, and that’s where local knowledge makes a difference.
Have questions about the market or wondering what your home could sell for today? Ask us about our FREE Home Market Analysis to determine exactly how much your Home is worth in today’s Market.
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