The Collingwood and Area Real Estate Market is Revving Its Engines
The Collingwood and area real estate market continued its record-setting pace in March.
The number of residential, MLS® sales in the six key areas we serve including Collingwood, Clearview Township, Wasaga Beach, Town of the Blue Mountains, Meaford and Grey Highlands, surged by 36% over an already strong, February and were a full 51% higher than in March, 2014. First, here are the year-to-date (YTD) highlights for the full, western region of our real estate board area:
- There have been 98 MLS® condo sales in the 6 key areas, YTD in 2015 compared to 63 in in the first three months last year; an increase of 55.6%
- The number of YTD sales from $350,000 to $500,000 increased by 53.8% over January – March, 2014
- Looking at the six key areas, these two factors led to an increase in the 12 month average, residential sale price of 10.4% to $390,235 compared to $353,324 at the end of March last year. Note this is an average price and not a median price.
- The number of new residential listings in these six areas, in the first three months of 2015 are down by 8.9% compared to last year. There were 242 new residential listings in March which was only a marginal increase over the 228 we saw in February.
- With fewer listings and more sales, we have balanced market conditions in most areas with strong seller’s market conditions in the Town of Collingwood. As we all know, limited supply + high demand = increasing prices.
Here’s how it shakes out by area.As the weather is now warming up, we can expect to see some new listings coming on the market to satisfy buyer demand; especially in the more urban centres such as Collingwood, Wasaga Beach and Stayner. My sense is that these will be very quickly absorbed by the many buyers out there who cannot find what they are looking for. Be prepared for continued very strong market 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®