As previously mentioned, real estate sales across southern Georgian Bay through July and August posted solid gains above sales last summer based on statistics produced by the Georgian Triangle Association of REALTORS® (GTAR).
An increase of 10% in year-to-date MLS® unit sales through the first 8 months of 2012 continues to demonstrate the strong demand for area properties. With the exception of Clearview Township where year-to-date MLS® sales are down a total of just 4 units (4.7%), all other area municipalities that make up our market are showing strong gains in unit year-to-date sales activity. Grey Highlands which in August 2011 had a 23% decrease in year-to-date sales from the prior year is showing a 58% increase in sales for 2012 with 82 properties sold year-to-date compared to just 52 this time last year. As per the attached graph, other area municipalities are also reflecting double digit gains in year-to-date MLS® sales.
The months of July and August have also brought renewed activity with respect to sales in the upper price segments of our market. Year-to-date MLS® sales between $500,000 to $800,000 total 97 properties, 28 of which (29%) sold in July and August. Similarly, in the $800,000 to $1 million segment, 8 of the 13 sales year-to-date (61%) and 5 or 24% of year-to-date sales above $1 million took place over the summer.
It should be kept in mind that for the most part, MLS® sales reported by GTAR are typically “resale” properties and for the most part, do not include the sale of new homes and condominiums made by developers. With these additional “new” sales factored in, it is very evident that demand for area properties has rebounded significantly from the sharp decline we experienced during the market downturn of 2008.
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