Collingwood – Blue Mountain October Real Estate Market Recap

Numbers can be fun.  You can spout of some statistics to friends.  You can add them, subtract them or print them out and use them for wallpaper.  Whatever you like, you can do.  This is a gentle way of reminding you too that statistics are nasty little things that can be interpreted and misinterpreted a thousand little ways but nonetheless, they do reveal certain truths and trends.  So, here you are…. a tidy little snapshot of the Georgian Triangle Real Estate Market for October 2010.

A few observations:

• The number of residential sales year-to-date (YTD), in-town, valued from $200,000- $350,000 are on par with the first ten months of 2009 suggesting relatively stable market conditions prevailed this year
• A closer look shows some decline in this same segment of the market over the last 3 months
• Sales in the month only of October 2010 are down marginally compared to October ‘09
• The YTD average sales-to-listings ratio for residential properties in the 6 major markets we serve (Collingwood, Clearview, Blue Mountains, Wasaga Beach, Grey Highlands and Meaford) is currently just over 34%; still in buyers market territory
• Condominium sales in the area are down by 18.8% in the last three months while general residential sales are down about 13.4%
• The decline in residential sales compared to ’09 started in June this year; likely a reaction to the introduction of HST, volatility in interest rates and economic recovery concerns.  The trend is not showing signs of reversing at this time
• Sales over $500,000 year-to-date are up a very significant 52% over last year which has been a big factor in pushing up the average sale price figures