May 2012 Real Estate Market Recap For Collingwood, Blue Mountain and Area
May stayed the course as activity in the real estate market continued the pattern of stability we’ve been seeing through 2012. Over-all, sales in our catchment area, the Georgian Triangle, were on par with April. Year to date, sales are up 19% over 2011 levels most notably in Grey Highlands (51%), Meaford (48%) and Collingwood (23%). Activity was, as usual, led by single family home sales.
The number of new listings year-to-date is up 8% overall led by Meaford (24%) and Blue Mountains (25%) over last year. I’m noticing a tightening in the listing inventory in both Collingwood and Wasaga Beach compared to 2011 which may be signaling a move to sellers market conditions in those areas. It’s a bit early to say but is something to keep an eye on. The opposite seems to be true in places like the Town of Blue Mountains with many new listings but fewer sales.
Details are on the charts below and 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 in those climbed 21% over last year while prices moderated somewhat reflecting fewer sales 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.