How Were Sales in Your Area Last Year?

Real estate sales activity throughout the various municipalities that make up the market area of the Georgian Triangle Real Estate Board offered up a mixed bag of results for 2010 with many showing continued improvement in sales following the downturn in activity we experienced in late 2008 early 2009. The Blue Mountains, Wasaga Beach however both posted a decrease in the number of residential properties sold during the year as compared to 2009. Unit sales in the Blue Mountains decreased the most, down 8.5% from the prior year with 151 sales as compared to 165 in 2009. Wasaga Beach had 357 sales a decline of 3.3%.


Residential sales in Tiny and Clearview Townships were essentially unchanged in 2010 whereas the municipalities of Collingwood (up 6.9%), Grey Highlands (up 38.0%), Meaford (up5.4%) all showed increased sales activity.

Some significant shifts took place with respect to average pricing in these areas but this should not be construed as being an appreciation in property values. As mentioned in my prior posting, sales activity at the upper end of our market last year grew significantly with sales between $500,000 and $800,000 up 40.0%, sales between $800,000 and $1 million increased 33.3% and lastly sales above the $1 million threshold increased a whopping 86.7% with a total of 28 sales posted through the MLS® system of the Georgian Triangle Real Estate Board. The two areas reflecting the highest average residential prices were Mulmur Township with an average price of $543,140 while The Blue Mountains followed closely with an average residential price of $510,427. Residential sales in Mulmur Township are traditionally made up of acreage or estate type properties while The Blue Mountains is home to many of the area’s higher priced homes close to area ski and golf clubs.

The increased activity we experienced last year with upper-end “luxury” home sales helped to drive the average residential price for our market overall at the end of December to $314,937 from $286,378 one year earlier, an increase of 10.0%. The lowest average price for residential housing can be found in the Municipality of Meaford - $264,954, Wasaga Beach - $267,477 and in Collingwood - $275,895. Moving forward we will undoubtedly see continued growth in the sales of higher priced homes, driven by the influx of buyers from the GTA purchasing these properties for recreational and or retirement use. These higher end sales impact disproportionately both the overall sales revenue and the average residential pricing for our area leading one to believe that overly positive conditions exist when they in fact do not. Whether you are buying or selling, every property transaction deserves a detailed comparable analysis to ensure that the appropriate pricing is applied. For further information with respect to your real estate decision(s) please feel free to Contact me.  For a complete summary of area real estate activity 2009 versus 2010, see the latest issue of my Georgian Triangle Real Estate News.

Protecting Our Personal Belongings

  As REALTORS® we are obviously in and out of a lot of properties through the course of our selling and listing duties.  When we book showings of seller's homes, it is not too uncommon to be provided with instructions wherein we are told the owner will just leave the door unlocked and personally I find this shocking.
 This past week my daughter and I were skiing and snowboarding at Blue Mountain one evening.  Having not had anything to eat since lunch, my daughter went to grab a quick bite in the Central Base Lodge and while doing so, had her snowboard stolen.  Needlesstosay it was a very upsetting experience.  It ruined our evening together and we had also planned to go out the next day.  She was upset for having worked hard on her homework all weekend so as to be able to snowboard on her day off from class and secondly because she found in unconscionable as to why anyone would take something that didn't belong to them.
  Living in a smaller community away from a large urban centre we tend to be lulled into a false sense of security.  This is a small town, everyone knows everyone else, there are no criminals here.  Wrong!  Police will tell you that crime is often more rampart in smaller places for that very reason, people lower their guard, are more trusting and consequently are more vulnerable.  My daughter knew she should have one and had planned during her drive up her to buy a lock for her snowboard.   Unfortunately she left it about an 1/2 an hour too late.
  Want another example of small town theft?  Two years ago I had a $1,000 bike stolen from the garage at my cottage on Manitoulin Island in broad daylight with somewone sleeping upstairs.  Now unless I am working outside I keep the door closed.  When I leave the propety ie: to go out in the boat the cottage is locked and so is my car.  Regardless of where you are and for how short a period to time you might be away, trust no one! This week's tragic event in Toronto where the police officer was killed by a stolen snowplow makes a snowboard theft seem inconsequential and it is.
  Three years ago the Georgian Triangle Real Estate Board invested over $100,000 for state-of-the-art lockboxes to use on seller's homes.  These lockboxes secure the keys, faciltate easy showings and also track who has been in your home.  Small town or not, the world has changed, no one and no place is immune to crime so take every precaution possible to make sure that your home, car and other personal property is secure at all times.

Area Home Sales Over $1 Million Increase 86% in 2010

During 2010, area real estate sales continued to rebound from the recessionary days of 2008 posting a 2.7% gain in unit sales for the year as reported through the MLS® system of the Georgian Triangle Real Estate Board.  After a robust start to 2010, sales cooled somewhat in the latter half of the year particularly at the lower end of the market, $250,000 and below. This segment was the one most affected by higher unemployment, rising interest rates and by the impact of HST which came into effect on July 1st.

  Area MLS® sales during 2010 generated $544.8 million in total revenue, an increase of 12.5% over 2009 and over $100 million greater that the value of MLS® sales in 2008. This revenue increase stemmed largely from significantly higher sales at the upper ened of the market.  Residential sales between $500,000 to $800,000 totaled 133 properties, an increased of 40.0% over 2009.  Sales from $800,000 to $1 million were up 33.3%. Meanwhile sales above $1 million increased a whopping 86.7% over the prior year with 28 properties sold compared to 15 in 2009. 
  During 2010 the market returned towards more balanced conditions which favour neither sellers nor buyers however, the overall number of homes for sale on the market remained elevated.  At the end of December, 1,220 properties remained listed on the local MLS® system which represents a 9% increase in the amount of unsold inventory that existed at the end of 2009.  Given the current level of sales activity, there was 12.5 months of housing inventory at the end of 2010.
  At the end of December 2010, the 12 month average residential price stood at $314,937 up from $286,378 at the end of 2009.  This reflects a change of 9.9% year-over-year and should not be misconstrued as a 9.9% increase in home pricing for the year.  This upward shift in the area's average residential price is largely the result of the aforementioned increases in upper end home sales which in turn drove the average sale price higher.
 In my next posting I will summarize market activity throughout the various municipalities in our area during 2010.