Collingwood – Blue Mountain Area Real Estate Market Recap for July 2016
This infographic pretty much tells the story of the local Collingwood – blue Mountain real estate market where we continue to have record breaking sales against a backdrop of an extreme listing shortage in many areas of the market.
Looking for a house in- town Collingwood under $250,000? There are two for sale and one has a conditional offer. If you move that up to $350,000, there are 15 and 5 have offers in place. In all of the Blue Mountains, there are just two under $250,000 and both are rural fixer-uppers. How about a waterfront home? Best hurry as there are just 7 for sale in all of Collingwood and Blue Mountain.
Prices in the region keep climbing with the 12-month average now sitting at well over $400,000 in most areas. The chart below shows a breakdown of the residential markets last month in our six key areas.
With listings down 6% YTD and sales up 18%, it’s not a surprise to see prices escalating. More importantly, the number of available properties for sale is down 39% over last year! With less than 600 residential properties for sale in the region, it continues to be a challenging market for our buyers who need to act quickly when the right home comes on the market. For sellers, this doesn’t mean they can price way above market value as those properties are sitting in many cases so heed the advice of your REALTOR® in establishing your asking price. Interesting times out there indeed.