Georgian Triangle Real Estate Market Recap for May, 2011
Here is a recap of the May real estate market in the 6 key areas of the Georgian Triangle including Collingwood, Blue Mountain, Meaford, Wasaga Beach, Clearview and Grey Highlands.
As always, statistics are an interesting and dangerous thing. At first blush, I was a bit concerned when I saw the stats for May as it appeared that we were trending down compared to last year. However, I then broke out the key areas of the Georgian Triangle and looked at residential sales in particular. Here is what I found:
As you can see, the number of properties sold in the key markets were actually higher in May 2011 than in 2010 except in Meaford and Clearview. (Meaford has shown a bit of a worrying trend this year after having led the pack in the last few years.)
Some other observations:
• There were 183 sales reported on the Georgian Triangle MLS® in the month of May 2011 including 162 residential units (33 were condos), 4 farms, 14 vacant land parcels and 3 commercial properties.
• Year-to-date average residential sale prices in the 6 key markets is up in all areas over last year • While sales of properties over-all in the Georgian Triangle are down about 11% year-to-date, there were 14 more sales in May than in the previous month and, more sales in May 2011 than in 08 and 09.
• There were 701 new listings in the full Georgian Triangle Region in May and, there are currently 2458 properties for sale in the full Georgian Triangle market area.
• The residential, single family home, 12 month sale-to-list ratio in the six key areas is currently 30.66% which means that fewer than one in three properties listed for sale, sells.