The real estate market in South Georgian Bay (Collingwood, Blue Mountain, Clearview, Grey Highlands, Meaford and Wasaga Beach) continues to perform well as summer comes to an end. After five consecutive months of seeing sales posting higher numbers than in 2012, August did come in as a bit of a surprise as sales were actually down a tiny bit in August 2013 compared to August 2012. Really, there were only 2 fewer sales over-all and in many areas of the market, sales numbers continued to be strong.
Sales year-to-date in 2013 are up 6.1% over last year at this time and, dollar volumes are up by 6.9% during the same period. Sales in the $350,000 to $500,000 range in particular showed gaining momentum as we also saw a return of interest in upper tier properties priced over $800,000.
There were 39 condos sold last month in the area compared to 23 in August 2012. Year-to-date, there have been 250 condo units sold at an average sale price of $222,384 compared to 207 units at this time last year. Sales of single family homes in the Georgian Triangle reporting area as a whole were almost exactly on par with last year.
At the end of August, there were 2444 active listings in the area; down 6.7% from a year ago although in the last few months, we have seen the number of new listings each month come in at close to 2012 levels as sellers gain confidence again in their ability to sell their homes.
Collingwood in particular is firmly in balanced market territory and climbing towards seller’s market conditions. The sale to listing ratios in each area of the market improved in August for residential units although, still only about 1 in 3 residential units over-all sells during the listing period. This means that in most areas, buyer’s market conditions still exist going into the fall market with the exception of Collingwood.
While residential sales have been doing well, there is a glut of space of lease in the area; both commercial and industrial suggesting there are some good opportunities available for businesses looking to locate or relocate in the area.
All statistics collected from the Georgian Triangle Association of REALTORS® MLS® system.
It’s always a pleasure to meet new people and to assist them in meeting their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to email me or call at 705-446-1762.