Amidst all of the real estate turmoil south of the border and the recent dramatic swings in the stock market here in Canada, real estate sales throughout the Georgian Triangle have gotten off to a great start for 2008 helping to offset some of the apprehension that exists with buyers and sellers alike.
January sales totaled $28.6 million an increase of 2% over the same month last year. The total number of unit sales for the month were actually up 16% with 110 properties changing hands as compared to 95 sales in January 2007. The Town of the Blue Mountains and the Municipality of Meaford posted the largest gains with unit sales in January up 40% and 44% respectively. As these numbers indicate we are continuing to see a strong demand for area properties throughout the Georgian Triangle. With a robust economy and stable interest rates the outlook for the balance of 2008 looks good. Area sales are expected to increase albeit at a more moderate pace and we anticipate prices should remain stable with the Canadian Real Estate Association forecasting an average 3.8% increase for residential housing prices this year.
January sales totaled $28.6 million an increase of 2% over the same month last year. The total number of unit sales for the month were actually up 16% with 110 properties changing hands as compared to 95 sales in January 2007. The Town of the Blue Mountains and the Municipality of Meaford posted the largest gains with unit sales in January up 40% and 44% respectively. As these numbers indicate we are continuing to see a strong demand for area properties throughout the Georgian Triangle. With a robust economy and stable interest rates the outlook for the balance of 2008 looks good. Area sales are expected to increase albeit at a more moderate pace and we anticipate prices should remain stable with the Canadian Real Estate Association forecasting an average 3.8% increase for residential housing prices this year.
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