October, as expected, proved to be another strong real estate month in South Georgian Bay. With 220 sales posted in our area last month, it recorded the second highest number of sales by month in 2013. Fully 68% of all the residential sales were priced between $150,000 and $350,000. While year to date sales are up over last year, the number of listings is down and therefore, the area as a whole has posted the highest sale to list ratio we have seen since December 2009 at 32.79% year-to-date.
In the Town of Collingwood, we are continuing to see a declining inventory of listings coming onto the market but increasing sales and as a result, the town is firmly in balanced market conditions but could head toward seller market conditions if the trend were to continue. Given that the slower winter months are ahead, I think we will remain balanced at least until the spring market.
In the Town of Blue Mountains and in Wasaga Beach, the listing inventory for the month was up marginally compared to last year. Sales were on par in the Blue Mountains and up by 7 units over last October in Wasaga Beach. While both of these areas are still showing buyers market conditions, they are in an improving trend.
When we look at residential sales year-to-date, the interesting stories are in Clearview and Meaford where the number of properties sold is up by 17.9% and 21.6% respectively. Here is a chart showing a breakdown by area.
There are currently approximately 2225 properties for sale in the South Georgian Bay/Georgian Triangle area.
Typically sales moderate significantly in November – we’ll see.
All statistics collected from the South Georgian Bay 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.