Year-to-date unit sales in Collingwood are up 4.9% with 236 proprieties sold to the end of October versus 225 last year. In the Town Blue Mountains, sales for the year now total 136 properties which is a 13.3% increase over the 120 units sold in the same period last year. MLS® sales in each individual municipality for the first 10 months of this year ranked in order are as follows:
- Town Blue Mountains 13.3%
- Collingwood 4.9%
- Clearview -2.9%
- Wasaga Beach -4.8%
- Grey Highlands -10.0%
- Municipality Meaford - 19.5%
The bulk of the sales activity we see continues to be at mid to lower end of the market with 83% of the sales below $350,000. This is a percentage of total sales that has not changed in the last three years. Year-to-date 2009 sales above $500,000 total 102 units compared to 100 in 2008 representing just over 6% of the total market. Again this percentage has changed little in the last three years although it has been in the last 3 to 4 months that higher end property sales have resumed a similar pace to what we were seeing prior to the commencement of the current recession.
The big question on many consumer's minds is that of pricing. As President of the Georgian Triangle Real Estate Board last year, it was my contention that we would not see any significant reduction in prices in our market. One year later that is now essentially fact. The 12 month average price in our area has in fact risen (0.8%) from $280,724 in October of 2008 to $283,009 this year. Average pricing however is an ever-changing number that is affected far greater by the mix of properties selling than by inflation or deflation. To obtain an accurate synopsis of pricing requires an in-depth look at your neighbourhood and or property type. Recent reviews I have conducted in this regard indicate that pricing is fundamentally stable with the only significant price reductions coming from those listings that were over-priced to start with.
As always, if you have any questions or comments please consult the writer and I would be happy to assist you without obligation.