The months of July and August can often be somewhat unpredictable in terms of real estate sales and this year has thus far proven to be no exception. After posting abnormally strong sales in July 2007, this year July sales reflected a 31% decrease in revenue over the same month last year. MLS® sales throughout the Georgian Triangle totalled $42.7 million last month compared to $61.9 million in July 2007. A total of 173 residential units sold during the month versus 231 sales in July of last year which reflects a 25% decrease.
The hardest hit municipality was Wasaga Beach which saw the number of residential sales drop 54% from 52 sales in July 2007 to just 24 this past month. Sales results in other area municipalities for the month of July compared to July last year are as follows: Clearview -26%, Collingwood -15%, Town Blue Mountains -16%, Municipality of Meaford +18%, Grey Highlands -45%.
Area wide sales year-to-date are down 12% both in terms of units and dollars. Listing activity for the year has increased with the number of new residential MLS® listings in 2008 up 9%. Buyers currently have a abundance of MLS® listed properties available to choose from and with prices remaining stable, now is a good time to buy. For a complete synopsis of area real estate activity for the first 6 months of 2008, see my 2nd quarter Georgian Triangle Real Estate Newsletter
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