Real Estate Market Recap For Collingwood, Blue Mountain and Area for November 2014
Single Family Residential Sales in November moderated over the previous months, which is always the case as we approach the winter. Having said that, it was still relatively strong with 9.4% more sales in November 2014 compared to November 2013. (Interestingly, November 2013 vs. November 2012 saw 9% more sales as well.) Year to date, there have been 2091 sales, up 3.4% over the same month last year, with dollar volumes up 10.2% year to date, reflecting continued strong activity in the upper tier, as well as in most price bands in 2014.
The number of listings year to date are down 5.5%, and in particular, the month of November 2014 had 337 listings for the month, down 20.5% over November 2013. The year-to-date sales to listing ratio, which is the percentage of properties that sell, sits at a five year high at 36.53%.
Breaking down the market data by area, there are some significant differences in the communities we serve. As you can see in the chart below, Meaford sales were up 9.6% in Nov. 2014 vs. Nov. 2013, followed by The Blue Mountains where sales were up 6.8%; Clearview, where sales were up 5.4%; Collingwood, where sales were up 5%; Wasaga Beach, where sales were up 4%, and finally, Grey Highlands were sales were down 5%, but the 12 month average price was up 27.9%. Balanced market conditions continue. At the end of the month, there were 2675 active listings for sale on the MLS® system.
Condominium sales of 38 units were up 35.7% over Nov. 2013 (28 sales) and sales totalling $8.787 MM were up 45.6% over same time last year.
When we look at the sale prices, in November 2014, the most active price ranges were the $200-$249,999 and the $250-$299,999 price ranges, with 30 sales each (60 in total) in November 2014. Year to date these same two price ranges have been the most active for units sold with 355 and 350 sales respectively.
All in all, it looks like a strong finish to the year with a continued risk of a lack of inventory which will continue to push prices up in the new year. For those thinking of buying, why wait until spring? Now most certainly would be a good time to jump while the December slow down sets in for Sellers and spring prices are not yet near.