The first quarter is now behind us and real estate in South Georgian Bay is booming. The Collingwood, Blue Mountain and surrounding areas are experiencing strong seller market conditions with no end in immediate sight.
There were 275 sales for the month of March which is 47.8% more than in March 2016. Sales in the region are up 18.6% year-to-date.
There were just 341 new listings in the entire region last month, down 21% from a year ago and 20% year-to-date. The reduced listing inventory and the increased demand has caused a tight squeeze in the market resulting in substantial price increases from 6.4% to 35.9% year-to-date as can be seen in the chart below.
Activity has been strong in all price bands but actually went down in the $200,000 to $350,000 band. The reason is because of the lack of available properties to sell in that range.
For buyers, it is really important to work with an agent who can help to keep you informed as soon as properties become available for sale or even sooner. Buyers need to be ready to act very quickly and to have an offer strategy in place.
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