The number of properties sold in the area up to the end of September was still up 8.3% compared to the same period last year however, there were 16% fewer number of sales in September over August. Monthly sales started dipping below ’09 levels in June of this year and that trend has continued.
The number of residential sales in the six major markets we cover (Clearview, Collingwood, Blue Mountains, Wasaga Beach, Grey Highlands and Meaford) were down 9% compared to one year ago however, there were also fewer listings and therefore the sales-to-listing ratio has remained almost the same.
The most active price range for residential properties sold in the Georgian Triangle in September was as usual in the $150,000 – $249,999 range (60 sales) followed by the $250,000 – $349,999 range (41 sales) There were 17 sales over the $500,000 level including one sale over the $1 million dollar mark. Significantly, the sale of properties valued in excess of $500,000 is up dramatically YTD with 143 sales, compared to just 87 in the same period last year. There have been 7 sales this year over $1.5 million versus just 2 last year at this time.
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 six key areas of the Georgian Triangle is up 10% over 2009 with the average residential sale price in our 6 main markets being $325,956 versus $294,289 at this time 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 in September decreased by 5% over-all (all areas and all types of properties) however, the number of residential listings in the six key areas decreased sharply by almost 19%. At the end of September 2010, there were 2235 active listings on the market in the Georgian Triangle with about 1650 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 over 30% suggesting we are still in Buyers market territory. I note a particular strong decline in the Town of Blue Mountain where the ratio has dropped to 29%.
The sales of condominiums in the third quarter of this year are down 31% over the 3rd quarter of last year however, prices have remained stable.
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