The number of properties sold in the area up to August 31st is up 12% over last year and, there were 24% more sales in August compared to July. The number of residential sales in the six major markets we cover (Clearview, Collingwood, Blue Mountains, Wasaga Beach, Grey Highlands and Meaford) were actually identical to one year ago. Total sales in all areas and for all types of properties for the month were slightly down compared to August 2009 although the dollar value of the sales was up by 10% compared to August 2009.
The most active price range for residential properties sold in August was the $150,000 – $249,999 range (84 sales) followed by the $250,000 – $349,999 range. Significantly, the sale of properties valued in excess of $500,000 is up dramatically YTD with 126 sales, compared to just 70 in the same period last year. There have been 7 sales this year over $1.5 million versus just 1 last year at this time. Remarkably, we are seeing numerous properties listed and sold over the $2 million mark. In the month of August alone, there were 25 sales of properties valued at over $500,000 compared to 8 last year in the same month.
The 12 month average residential sale prices year-to-date are up in all our major markets this year. The 12 month average residential sale price in the Georgian Triangle is up 10% over 2009 with the average residential sale price in our 6 main markets being $325,146 versus $294,670 last year. I would add a cautionary note though – much of the increase in the AVERAGE price is due to the strength of home sales in the upper price range of the market. In homes priced under $300,000, we have actually seen some early softening in the sales figures.
The number of new listings is on par with August 2009 although the actual number of listings for the month climbed up from the number listed in June and July. At the end of August 2010, there were 2313 active listings on the market in the Georgian Triangle with about 1600 of these being residential units.
The tell-tale sales-to-listing ratio (percentage of properties listed that sell), is again on par with this time last year at just under 30% suggesting we are still in buyers market territory. For the month alone, August presented the highest ratio of any month this year; possibly fueled by a fear of rising interest rates.
Statistics can be helpful but also misleading when not applied to a particular scenario. If you are looking at buying or selling in the Georgian Triangle area, it is important to consult with a REALTOR® to obtain detailed information about the statistics as they apply to your particular interests or needs.
All MLS® data and/or statistics obtained from the Georgian Triangle Real Estate Board which generally reflects resale values and statistics. Many of the larger new home developments are not listed in our system.
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