The number of sales in the Collingwood – Blue Mountain region of Southern Georgian Bay were down in February compared to one year ago by almost half. While some may think that means we have turned a corner toward a buyer’s market, the reality is far from it. We have a supply problem. The number of new listings year-to-date is also down by over 50% compared to one year ago creating a dilemma for buyers who are very much present in the marketplace. They simply can’t find something to buy. Have a look at these charts and then you’ll find out just how few properties are for sale today at the bottom of this post.
While prices appear to be down as well, this is again a function of the available inventory:
If we drill down further into the data below, you can see that properties are selling at a higher percentage of their asking price than they were a year ago and in Collingwood, properties so on average last month for OVER their asking prices.
The same conditions apply in the condominium market:
To give you some idea of tight the inventory is as of the time of writing this today (March 5, 2018), consider the following.
- If you want to buy a single-family home in Collingwood on town services, there are just 14 and of these, 3 are sold conditionally. If you need 3 or more bedrooms, the number to choose from today drops to 10
- Looking for a condo up around the mountain but outside of the village? there are just 3 to choose from today
- If you are wanting to buy a detached home in Thornbury, there is one to buy. Just one.
- In Meaford, there are 16 single family homes on town services available.
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