After an off month in June, sales in July rebounded with the number of units sold (186) up 16 percent over the same month last year, making it the third best July on record. As of the end of July, the number of properties sold so far this year put it just 4% below the record set for the same period in 2007; the best year on record for sales in the area.
Despite the positive year-to-date numbers, there are almost 11 months of inventory available which is about a 20% increase over the same period as last year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Details of July’s activity are on the charts below which you can enlarge them by clicking on them.
The Georgian Triangle real estate market varies dramatically by area and so, each community should be looked at individually when making decision. If you look at the six key areas on the charts below, you’ll note that residential sales climbed in each area while the average sale prices moderated. This is an indication of more moderately priced homes changing hands rather than in the upper tiers of the marketplace.
If the same seasonal patterns continue in 2012 that we have seen in the past few years, the market should continue to stay strong at least into October barring any dramatic shifts in interest rates or other economic surprises.
It’s always a pleasure to meet new people and to assist them in meeting to their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to contact me anytime at 705-446-1762 or send me an email.
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