As noted in my prior posting dated September 3rd, area real estate activity has rebounded substantially over the past several months with June, July and August sales up 16%, 27% and 30% respectively.
Year-to-date, MLS® unit sales across the various municipalities that make up the Georgian Triangle Real Estate Board are as follows: Clearview Township -1.0%, Collingwood -5.6%, Grey Highlands -9.4%, Municipality Meaford -33.0%, Town Blue Mountains -7.9% and Wasaga Beach -13.3%. Unit MLS® sales in total have decreased 6.3% to the end of August versus the same period last year but with increased sales activity over the last three months the gap is quickly narrowing.
Despite decreased sales activity, pricing has remained relatively constant with the year-over-year average residential price in the area holding steady at just over $278,000. Average prices in the Municipality of Meaford and Town Blue Mountains have increased 8.5% and 4.9% respectively. In other municipalities average residential sale prices have declined between 2% to 17% driven largely by the fact that higher end home sales have been noticeably weaker during the past 12 months.
Sales in the upper price ranges however is where some of the greatest improvement in market activity has taken place. Year-to-date we have seen 8 sales between $1.0 to $1.5 million which is double the number of properties sold in that price range last year.
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