For many reasons such as lifestyle, demographics and affordability, condominiums are increasingly becoming the home of choice for many buyers today. I know that in the last year, I too have shown and sold more condos than any other type of property so I thought a quick review of the statistics would be interesting.
In the Georgian Triangle area over-all, about 20% of all residential sales on the Georgian Triangle MLS® in the first three months of 2011, were condos sales with an average sale price of $221,453.00 compared to an average sale price for a single family home of $343,642.00. There are however, regional differences. As the concentration of such developments exist in the Collingwood and Blue Mountain areas, they naturally attract more sales.
In both Collingwood and Blue Mountain, condominium sales have represented about 40% of all MLS® residential sales with 58 units sold versus 88 single family homes.
Developers seem to understand this demand because a quick review of proposed new developments in these two communities show that more than half all of units planned are also condominiums or multi-residential units.
We have many, many condominium developments in the Georgian Triangle area with prices ranging from under $100,000 to over $1 million. Each development has its own points of difference from another and it is important for condominium buyers and sellers to work with a REALTOR® who understands these variations, challenges and benefits.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg