March 2014 Real Estate Market Recap For Collingwood, Blue Mountain and Area
Not surprisingly, sales for the month of March, 2014 in Collingwood, Blue Mountain and area were down by 10% over this time last year and, 12.6% year-to-date. This was anticipated due to the extreme weather conditions we experienced in the first quarter of this year.
Since the milder conditions arrived just one week ago, we have seen a noticeable increase in the number of showings and enquiries. There are also a large number of conditional sales pending which should be reflected in stronger sales numbers for the month of April. In addition, the recent decline in the already low mortgage rates are triggering first time buyers and investors to jump in now.
The biggest frustration I hear from buyers is the lack of choice in the marketplace and it’s true. While sales numbers are lower, the number of new listings is also down significantly with only 447 new listings in the total area last month compared to 586 in the previous March.
This chart is a summary of activity in the total area our real estate board covers:
This chart gives a breakdown by the six key areas in South Georgian Bay. Notice what’s happened to the 12 month average, sale prices in the last year.