Following last winter’s icy grip which resulted in very weak 1st quarter MLS® real estate sales in the area, market activity has roared back and we appear destined to be headed for another record year in terms of dollars sold for MLS® sales of Georgian Triangle properties.
While we experienced a somewhat cooler
summer, MLS® sales activity June through August remained hot with $220 million worth
of sales reported in the three month period, an increase of 21% from the same
period last year. MLS® unit sales during
the three summer months of 682 properties reflected an 11% increase compared to
2013. Through the end of August 1,469
properties have been sold through our local MLS® system year-to-date an
increase of 2% over 2013. MLS® dollar
sales year-to-date through August on the other hand of $468 million, reflects a
10% increase from the same period last year. We continue to see an increase in
the number of higher priced properties being sold which continues to drive our MLS®
dollar volume to record levels.
Single family home sales while robust with
968 properties sold year-to-date are up just 3% from last year. MLS® condominium sales meanwhile which total 283
sales to the end of August are up 12% year-over-year. With the exception of Clearview Township, MLS®
single family homes sales in other area municipalities are running at rates
equal to or greater than last year.
Year-to-date sales by municipality through the end of August are as
follows: Clearview -8%, Collingwood
+11%, Grey Highlands no change, Municipality Meaford +18%, Blue Mountain +2%,
Wasaga Beach +5%.
The number of new MLS® listings coming onto
the market has continued to diminish through 2014, resulting in more balanced
market conditions that do not unduly favour buyers or sellers. Sales in the
$350,000 to $500,000 January through August have remained very active with 180 sales
year-to-date which represents a 21% increase over 2013. During the first eight months of the year, sales
between $500,000 and $999,999 total 108 properties versus 97 in 2013, an increase
of 11% while sales over $1 million now stand at 19 compared to 17 last year.
With the sharp increase in sales activity we
are seeing a greater frequency of multiple offers being submitted sometimes on
listed properties that have languished on the market for months. With another ski/snowboard season fast approaching,
the continuation of low interest rates and positive consumer confidence, we anticipate
the balance of 2014 will continue to reflect strong demand for area properties
as we usher out 2014. Please feel free to Contact Me at any time for a no obligation discussion about your real estate buyer and or selling objective.
