Call Marg: 705-446-1762

We thought the market was as busy as it could get in May but June kicked it to the curb with 275 sales in our area (compared to 240 in May) having a value in excess of $89 million. The number of sales exceeds the same time last year by more than 20%! The number of new listings also fell substantially creating very tight market conditions in most areas. There were 52 condo sales last month – the highest number we have seen in any month this year.

market summaryIn Collingwood last month, there were 43 listings and 43 sales. I’m not sure I’ve ever seen that before in my 26 year career. The year-to-date sales to listing ratio sits at 60% which is firmly in sellers’ market territory. Having said that, properties that are priced over market value are languishing on the market as buyers today are sophisticated and not willing to buy at any price if it doesn’t make good financial sense.

Market SSales are up in all price bands across the part so this has been a great summer for sellers so far but challenging for buyers who have slim pickings and need to act quickly for the best choices. The risk is that buyers are so frustrated, they over-pay and it’s an important reminder to exercise caution and not get carried away.

Market sales by area chartFor sellers, many think they can play the market and ask any price but this is simply not true as mentioned earlier. Yes, it is a wonderful time to sell but you still need to price to the market and present your home in the best light and condition.

READ  Collingwood and Area Real Estate Barometer Nov. 15-21, 2019

It’s tricky for both buyers and sellers to understand and navigate this type of market and it’s more important than ever to have sound, professional advice.  I’m always here to help.

Monthly E-Newsletter

Marg Scheben-Edey

Real Estate Broker
Market Value Appraiser - Residential
Accredited Green Broker™
(designated by the National Association of Green Agents & Brokers)

RE/MAX four seasons
realty limited, Brokerage
Each Office Independently Owned & Operated
67 First Street, Collingwood L9Y 1A2

Contact Marg

 Direct: 705-446-1762

Prefer Text? 705-446-5066

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