Friday, October 4, 2013

Area Real Estate Sales up 15% in the 3rd Quarter

  Area real estate sales reported through the MLS® system of the Georgian Triangle Association of REALTORS® (GTAR) (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, The Blue Mountains, Grey Highlands and Meaford) totaled $187.9 million in the 3rd Quarter reflecting a 15% increase in sales over the 3rd Quarter of 2013.  Sales during the month of September were particular strong with unit sales and dollar volume for the month up 28% and 35% respectively from one year ago.  

  Year-to-date sales volume for the first nine months of 2013 now totals $485.8 million, reflecting a 9.8% increase over MLS® property sales of $442.5 million during the same period in 2012.  A total of 1,644 properties changed hands during the first nine months of 2013 versus 1,517 during the same period of 2012, an 8.4% increase year over year.
  The number of new listings for the first nine months of 2013 now totals 5,168 properties, a decrease of 2.8% over the same period in 2012.   The strongest month for new listings in 2013 was April, when 706 new listings came onto the market. This sharp increase in new listings during April is consistent with the arrival of the spring selling season.  The number of expired listings has decreased this year, down 5.0% through the end of the 3rd Quarter.  As the result of fewer new and expired MLS® listings year-to-date, there has been a reduction in the overall available housing inventory listed for sale.  This is effectively leading to more balanced market 
conditions overall for both buyer and seller.  

Following several months of very soft sales activity, the Municipality of Meaford and the Township of Clearview are now exhibiting the strongest demand for residential homes in our area.  MLS® unit sales in the Municipality of Meaford and Township of Clearview through the 3rd Quarter are up 24.1% and 16.5% respectively.  Sales in other area municipalities are as follows: Wasaga Beach up 2.4%, The Blue Mountains up 2.3%, while the Municipality of Grey Highlands and Collingwood showed weaker units sales with decreases of 12.2% and 3.0% respectively.

 Year-to-date MLS® unit sales through the 3rd Quarter shows increases in every price range: under $200,000 price range reflected a 12.9% increase over third quarter 2012 year-to-date, while sales between $200,000 and $350,000 were up a modest 1.5% increase.  Sales between $350,000 and $500,000 are up 17%, while sales between $500,000 and $800,000 increased 16.7%.  Sales between $800,000 and $1 Million showed the greatest increase at 35.7%, while year-to-date sales over $1 Million are up by 1 unit (4.5%.)

 Given the current pace of sales activity, 2013 is shaping up to be a record year for MLS® sales activity in the Georgian Triangle.  I anticipate we will see over $600 million worth of area properties being sold through our local MLS® system before the end of the year.  

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Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.