Real Estate Market Conditions in the Collingwood Area Booming
The Collingwood and area real estate market continues to boom with seller’s market conditions in most areas of the region. This past month, the number of new listings was down substantially over a year ago and, the number of sales up over 25% from a year ago. Here is a summary of activity in the South Georgian Bay Region:
Here is a closer look at the residential market in the six key areas we serve including Collingwood, Clearview Township, Wasaga Beach, Town of the Blue Mountains, Meaford and Grey Highlands.
The average residential sale price in the six key areas is 8.6% higher than it was at the end of May last year and that upward trend is expected to continue as buyers continue to bump up their budgets in order to find a home.
There were 36 condo sales in May – roughly on par with the past few months and with an average sale price of $255,830.00.
With fewer listings and more sales, we have balanced market conditions in most areas with strong seller’s market conditions in many areas. As we all know, limited supply + high demand = increasing prices.
Based on last years’ trend, we can expect to see about 260 sales in June and quite possibly more depending on the number of new listings to hit the market. Be prepared for continued very strong market conditions in the months ahead.
Note: All of these statistics are compiled from data from the MLS® system of the Southern Georgian Bay Association of REALTORS®