October 2012 Real Estate Market Recap For Collingwood, Blue Mountain and Area
Well, it finally had to happen. My prediction of a softening in the 4th quarter last month was wrong so far. Sales have not softened and in fact, the opposite happened in October.
October boasted 217 sales in the area – the highest sales month of 2012! Actually, this is the highest number of sales recorded in any single month since July 2009. And… in regard to the dollar value of those 217 sales, October set a new, all-time high record never seen before in our area. This is not Toronto. This is not the market you hear about on the radio and national news. While other areas are reporting some significant drops in sales, each and every one of the towns and communities in the Georgian Triangle area had MORE sales last month than in 2011. Year-to-date sale to listing ratios are inching from buyers market territory toward more stable conditions.
Sales year-to-date in the six key areas served by our real estate board (Collingwood, Clearview, Wasaga Beach, Meaford, Grey Highlands and the Town of Blue Mountains) are up 15% over one year ago. Despite the positive numbers, there are still over 1600 residential properties currently listed for sale in the Georgian Triangle with 1226 sales to date: that is a residential inventory of over one year.
Details of Octobers activity can be found on the charts below which you can enlarge them by clicking on them. This first one provides a summary of the total area which includes some communities on our boundaries.
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 climbed in each area while the average sale prices moderated in most areas. This is an indication of more moderately priced homes changing hands rather than in the upper tiers of the marketplace.
What Next? I am not foolish enough to predict now what November will bring but I can tell you I’ve already been involved in multiple offers this first week of the month and have several serious buyers actively on the hunt for just the right home.
It’s always a pleasure to meet new people and to assist them in meeting their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to email me or call at 705-446-1762.