Third Quarter 2012 Real Estate Market Recap For Collingwood, Blue Mountain and Area
Area Real Estate Activity Up in Third Quarter
MLS® sales activity reported through the Georgian Triangle Association of REALTORS® (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, The Blue Mountains, Grey Highlands and Meaford) posted a gain of 7.8% Year-to-Date to the end of September 2012 with 1520 properties changing hands in the first nine months of the year versus 1410 for the same period in 2011. Overall, September Year-to-Date (YTD) sales volume in 2012 totalled $443.1 million reflecting a 6.0% increase over September YTD 2011 sales of $417.8 million.
Most Active Price Ranges
Sales activity in several price ranges showed improvement in the 3rd quarter of 2012 compared to the same period last year. Unit sales below $250,000 totalled 256 in the 3rd quarter of 2012 marking a 7.2% decrease over 3rd quarter 2011 results; in the $250,000 – $499,999 price range, 3rd quarter sales of 233 properties represented a healthy 22.0% increase over the 3rd quarter of 2011. In the $500,000 – $999,999 price range, 3rd quarter sales of 48 properties reflected a 6.7% increase in this price range for 2012, compared to the 45 properties sold in the 3rd quarter of 2011. Lastly, sales activity in the $1 million plus price range during the 3rd quarter of 2012 totalled 8 properties, compared to the 7 homes sold over $1 million in the 3rd quarter of 2011.
The number of new MLS® listings during the 3rd quarter of 2012 totalled 1,628 units, down 9.4% from the 3rd quarter of 2011. The number of expired listings year-to-date 2012 totalled 2,255 properties, up 5.5% over the same period last year.
The month of July 2012 was the strongest listings month of the 3rd quarter, with 557 new MLS® listings, and the month of August 2012 was the strongest sales month of the 3rd quarter with 200 sales. Third quarter’s statistics reflect the fact that approximately 1 in every 4 houses listed for sale, actually sell.
The Municipality of Grey Highlands and The Blue Mountains showed the strongest demand for residential homes with September YTD 2012 MLS® sales activity up 50.0% and 19.3% respectively, versus September YTD 2011. The Town of Wasaga Beach and the Town of Collingwood had significant increases in MLS® sales activity September YTD 2012, up 16.1% and 14.4% respectively, versus September YTD 2011. Residential sales in the Municipality of Meaford for September YTD 2012 were up 6.8% from September YTD 2011 figures, whereas MLS® residential sales activity in the Township of Clearview was down 5.2% in September YTD 2012 figures versus September YTD 2011.
Condominium MLS ® Sales Activity
There were 82 condos sold in Collingwood and the Blue Mountains during the 3rd quarter of this year compared to 90 last year. Year-to-date, 220 condo’s sold in these same two areas by September 30th compared to 237 in the same period for 2011. While down marginally, this is not significant and average sale prices have increased during the same period.
How Many Are For Sale Now?
There are currently 2,476 properties for sale in the entire Georgian Triangle MLS® system including about 1702 residential properties. When you break that down further, there are 205 homes and 169 condominiums for sale in the Town of Collingwood and, 197 homes and 198 condos in the Town of Blue Mountains. Let me know if you would like a breakdown of the other communities we serve.
While market conditions are expected to remain stable in the 4th quarter of 2012, I’m not entirely convinced and believe sellers may want to really sharpen their pricing and presentation. While third quarter performance was strong, sales in the month of September alone were down by a full 10% compared to September 2011. We are seeing softening in the markets all around us and while we know the Georgian Triangle communities are unique, we are not immune to economic realities.