Tuesday, September 23, 2014

Area Real Estate Sales On Pace For a Record Year

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.

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Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4


Direct: 705-443-1037

Office: 705-445-5520 ext 230


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