Friday, November 7, 2014

Area Real Estate Sales Continue at a Record Clip

As we head into the final two months of 2014, Southern Georgian Bay area real estate continues to reflect a strong demand among Buyers.  After a slow start to 2014 with first quarter MLS® dollar sales down 6%, the market has roared back with MLS® sales overall now running well ahead of last year.

  MLS® dollar volume in October of $63.1 million reflected a 2% increase over October 2013 with MLS® unit sales for the month up almost 5%.  MLS® sales year-to-date of $597.3 million reflects an increase of 8% over the first 10 months of 2013.  Virtually all area municipalities are showing a year-to-date increase in single family home sales with the Municipality of Meaford showing the greatest gain.  Year-to-date MLS® single family home unit sales in the Municipality of Meaford are up 14% followed by the Blue Mountains with a 10% increase.  Single family home sales in Clearview Township reflect a 7% gain over 2013 while Collingwood and Wasaga Beach are up 3% and 2% respectively.
 
Total MLS® dollar sales to the end of October are $597 million, up $46 million or 8% from 2013.  MLS® unit sales for the year are actually down from one year ago with 1,887 sales reported in 2014 versus 2,104 in the first ten months of 2013.  While unit sales are down, MLS® dollar volume continues to increase due to the higher number of upper end home and condo sales taking place in the area.  Year-to-date there have been 66 single family 
home and condo sales over $750,000 in the area compared to 47 last year, 
an increase of 40%  

  Area MLS® condominium sales have been very strong throughout 2014 with sales year-to-date of 381 individual units reflecting a 15% increase in sales over the first 10 months of 2013.  MLS® condominium sales in the Blue Mountains are up 24% with 125 units sold year-to-date compared to 101 sales in the same period last year.  Sales of MLS® listed condominiums in Collingwood of 224 units through the end of October reflects an 11% increase from one year ago.  Condominiums are increasingly becoming popular with area buyers looking to escape the maintenance tasks that are associated with single family home and chalet ownership and this is especially true with recreational buyers. Condominiums are also an affordable alternative for first time buyers with two bedroom, two bath units in Cranberry selling for significantly less than a modest post war bungalow in Collingwood with less square footage.


  In 2013, MLS® sales in the area exceeded $600 million for the first time coming in at just under $625 million for the year. It would appear that with two months remaining in 2014, we are destined to set a new record for MLS® dollar sales volume once again, a clear indication that demand for area properties is stronger than ever.


Tuesday, September 23, 2014

Area Real Estate Sales On Pace For a Record Year


Following last winter’s icy grip which resulted in very weak 1st quarter MLS® real estate sales in the area, market activity has roared back and we appear destined to be headed for another record year in terms of dollars sold for MLS® sales of Georgian Triangle properties.

  While we experienced a somewhat cooler summer, MLS® sales activity June through August remained hot with $220 million worth of sales reported in the three month period, an increase of 21% from the same period last year.  MLS® unit sales during the three summer months of 682 properties reflected an 11% increase compared to 2013.  Through the end of August 1,469 properties have been sold through our local MLS® system year-to-date an increase of 2% over 2013.  MLS® dollar sales year-to-date through August on the other hand of $468 million, reflects a 10% increase from the same period last year. We continue to see an increase in the number of higher priced properties being sold which continues to drive our MLS® dollar volume to record levels.

  Single family home sales while robust with 968 properties sold year-to-date are up just 3% from last year.  MLS® condominium sales meanwhile which total 283 sales to the end of August are up 12% year-over-year.  With the exception of Clearview Township, MLS® single family homes sales in other area municipalities are running at rates equal to or greater than last year.  Year-to-date sales by municipality through the end of August are as follows:  Clearview -8%, Collingwood +11%, Grey Highlands no change, Municipality Meaford +18%, Blue Mountain +2%, Wasaga Beach +5%.

  The number of new MLS® listings coming onto the market has continued to diminish through 2014, resulting in more balanced market conditions that do not unduly favour buyers or sellers. Sales in the $350,000 to $500,000 January through August have remained very active with 180 sales year-to-date which represents a 21% increase over 2013.  During the first eight months of the year, sales between $500,000 and $999,999 total 108 properties versus 97 in 2013, an increase of 11% while sales over $1 million now stand at 19 compared to 17 last year.

  With the sharp increase in sales activity we are seeing a greater frequency of multiple offers being submitted sometimes on listed properties that have languished on the market for months.  With another ski/snowboard season fast approaching, the continuation of low interest rates and positive consumer confidence, we anticipate the balance of 2014 will continue to reflect strong demand for area properties as we usher out 2014.  

Please feel free to Contact Me at any time for a no obligation discussion about your real estate buyer and or selling objective.



Friday, July 11, 2014

57% of Ontarians Optimistic About Real Estate

The Ontario Real Estate Association (OREA)  has partnered with market research firm Ipsos Reid to conduct a semi-annual province-wide research study that reflects how residents in Ontario view the current the residential real estate market. 

 For several years, various self proclaimed experts have touted  throughout the media that Canada's real estate market was over-heated, that the bubble was about to burst and Canadian homeowners should prepare themselves to see 15% to 20% or more of their home equity erased.  Such has yet to happen yet with a seemingly constant barrage of negative news about the Canadian real estate market you'd think the mood of consumers would be somber.

  The accompanying infographic (click on to enlarge) is the first release of the new OREA, Ispos Reid study.  Overall, Ontarians appear to feel optimistic about both the market outlook and home ownership.  Study results reflect that 57% feel this way with 34% believing the Ontario market will be even stronger next year.

In central Ontario where we are, 54% feel favourable towards the current market while 40% believe that conditions will be even better next year.  How this translates into the southern Georgina Bay region remains to be seen.  Many buyers in our market do not currently reside here.  Their purchasing motivation is often drive more by their desire to purchase a recreational property or on for retirement purposes.  I am sure that those living locally and employed in the retail or service sector would be far less optimistic that about a real estate purchase that someone from the Greater Toronto Area looking to invest in property in the area.

  This brings up two important issues relative to the future of Collingwood and the surrounding area especially in view of the upcoming municipal election this fall.  The first is economic development/job creation while the second is the question of affordable housing.   I will speak to these two issues in future posts.

Contact Me

Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4



Email:
rickcrouch@propertycollingwood.com



Direct: 705-443-1037



Office: 705-445-5520 ext 230




Website:
www.propertycollingwood.com















My Profile

Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.