Year-to-Date Real Estate Sales - Synopsis

Following the exceptionally strong sales in July as reported in my prior post, year-to-date real estate sales activity for Collingwood and the surrounding area has regained some of the ground that was lost after the recession set in. Year-to-date MLS® sales reported through the Georgian Triangle Real Estate Board totals $252.8 million compared to $290.0 million in sales done during the first 7 months of 2008. The year-to-date shortfall of just over $37 million typically represents less than one month's sales so as you can see, area real estate sales have performed very well given the economic conditions overall.
As indicated on the attached graph, despite a slight dip in May, monthly sales have been trending upwards since January. Year-to-date 988 MLS® sales have been reported through the end of July as compared to 1,120 for the first 7 months of 2007, a decrease of 13%. Listing activity has moderated significantly since last year resulted in more balanced market conditions and stable pricing. Year-to-date the number of new listings to hit the market totals 3,583 properties a decrease of 4% from the same time last year. This represents 3.6 months of inventory, slightly above the 3.3 months of inventory on hand last July just before the market went into a major slump.
If MLS® sales during the remainder of the year show the same degree of strength as shown in June and July, it is quite possible that year-to-date results for 2009 will meet and or perhaps exceed the full years sales of 2008.
For information specific to your area and or price range, please do not hesitate to contact me.