The month of February saw weaker overall real estate sales than in February of 2011 resulting in decreased year-to-date sales in most area municipalities around our area.
Through January/February, MLS
® single family home sales in the
Blue Mountains are up 17% year-to-date with 27 sales this year versus 23 during the first two months of 2011. Year-to-date sales of single family homes in
Collingwood total 45 properties which is equal to last year while sales in
Wasaga Beach are up slightly. As per the graph, all other areas are lagging behind sales compared to the first two months of 2011.
Sales in the upper price segments of our market have rebounded somewhat this year with 4 sales year-to-date in the $900,000 to $1 million range compared to none in the first two months of 2011. Additionally, two MLS
® sales above $1.5 million have been reported this year versus none through January/February 2011, both of which were in the
Blue Mountains. A property located at the top of Arrowhead Road with a panoramic view of Georgian Bay sold for just over $2 million. This was the first MLS
® sale in our area over the $2 million mark since mid 2011. The other high end sale was a listing of mine in the Nipissing Ridge subdivision, a gorgeous stone and timber frame home/chalet which sold for just over $1.5 million.
One additional bright spot in our market at the moment is the condominium market. Year-to-date, MLS
® condo sales are up 27% with 47 units having been sold in the first two months of the year compared to 37 sales one year ago. Resale condominium sales continue to remain strong given the fact that a number of new condo projects are underway as well. Obviously this form of property ownership in the area has not lost any of its lustre despite the fact that many of the older condominium developments are starting to incur special assessments and or high monthly condo fees to meet their increased maintenance costs.
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