Area Real Estate Sales Down Marginally in August

While the Toronto and Vancouver real estate markets saw a substantial increase in sales activity during August, (21% and 54% respectively) that same momentum was not reflected in real estate sales across the southern Georgian Bay region.

MLS® unit sales in August totaled 196 properties, down just slightly from the 198 sales reported in August 2012.  Dollar volume for the month of $58.5 million reflected a 2% drop from the $59.7 million worth of area MLS® sales in August of last year.  The slightly weaker MLS® sales activity experienced in August came on the heels of three consecutive months May through July, where MLS ® sales of $189.1 million represented a $30.5 million or 19.2% gain in MLS® sales during the same three month period last year.

  Year-to-date MLS® unit sales to the end of August totals 1,442 properties, an increase of 6% over the 1,359 MLS® sales during the first eight months of 2012.  MLS® dollar volume year-to-date of $424.1 million is up 7% and we are still on track to a record sales year through the local MLS® system which should exceed $600.0 million.   

  It is worth noting that after over a year of very weak MLS® sales activity in the Municipalities of Clearview and Meaford, sales have rebounded during the past two to three months and are now 11% and 18% ahead of 2012 respectively.  The BlueMountains is the only area Municipality that has consistently exceeded 2012 sales during much of 2013.  Collingwood MLS® sales are down 4%, Grey Highlands is off 19% while MLS® sales in WasagaBeach are dead even with last year.

  During the past couple of months we have also seen a resurgence in upper end sales between $1 and $1.5 million which had been lagging earlier in the year.  Sales in this price range are slightly behind 2012 with 13 MLS® sales year-to-date compared to 16 last year.  Meanwhile sales above $1.5 million are more than double 2012 with 7 sales thus far in 2013 compared to just 3 last year.

   The number of new MLS® listings year-to-date totals 4,623, a decrease of just over 3% from last year.  The number of expired listings is also down from one year ago (2%).  These two factors combined with the increase in sales has resulted in more balanced market conditions favouring neither buyers or sellers  to any significant degree.  Nonetheless, with slightly over 1 out of every 3 listings sellers, buyers still have ample resale inventory to choose from within the local MLS® listings.

  As we head into the fall selling season and with another ski/snowboard season fast approaching, I forecast we will see some strong sales activity between now and mid to late November.  In the event we get a good jump on the 2013/2014 winter season, this should put us on a strong footing with which to start the new year. 

  For more detailed information pertaining to your specific real estate situation, please feel free to contact me, I am always happy to assist you without obligation.