Grey Highland Sales Up 57% in 2012

During the past 2 to 3 years, real estate sales through much of the Georgian Triangle have steadily come back following the most recent economic downturn which started in late 2007. By the end of last year, most area municipalities began to see a return to more consistent real estate sales activity.

Two exceptions were the municipalities of Grey Highlands and Meaford which in 2011 saw sales decreases in the 20% to 25% range. Seven months into 2012, this trend has completely reversed itself with year-to-date MLS® unit sales in Grey Highlands and the Municipality of Meaford up 57% and 18% respectively. No doubt the closure of Talisman Resort has had some impact on recreational property sales in the Beaver Valley, part of Grey Highlands. While Talisman continues to remained closed and is for sale, Grey Highlands real estate has once again become popular with 74 MLS® sales thus far in 2012 versus just 47 sales in the first 7 months of 2011.

The Municipality of Meaford which includes the former Municipalities of Sydenham and St. Vincent has up until last year seen steady growth as buyers have headed west of the major ski resorts in search of better pricing. Year-to-date MLS® sales total 67 properties, 10 more than what had sold during the first 7 months of 2011.

Year-to-date MLS® sales in the municipalities throughout our area are as follows:

• Clearview 97 sales up 3% from 2011
• Collingwood 204 sales up 7%
• Grey Highlands 74 sales up 57%
• Municipality of Meaford 67 sales up 18%
• Town Blue Mountains 95 sales up 17%
• Wasaga Beach 242 sales up 13%

  Market activity is expected to remain stable through the balance of 2012.  As we get through August and into September, recreational buyers begin to think about the coming ski season so certain segments of the market ie: condos and ski chalet sales typically increase through the fall months.

Real Estate Sales Rebound in July

  After taking a downturn in June, area real estate sales in July rebounded nicely posting significant gains over the results from July 2011. Unit sales as reported through the MLS® system of the Georgian Triangle Association of REALTORS® (GTAR) totaled 186 properties an increase of 8% from the prior year. Dollar revenue for the month was up 19% stemming from the fact that there were a number of high-end sales in the $500,000 to $1.5 million + range processed for the month. Activity in the upper end of our market has been slower this year than anticipated so it was encouraging to see this segment of the market begin to gain some momentum as we head into the fall selling season.

  Year-to-date MLS® sales in the area now total 1,163 properties, a 9% increase in sales over the first 7 months of 2011 when1,063 MLS® sales were reported. MLS® dollar revenue as of the end of July stands at $337.4 million, up7% from the $316.1 million sold through the end of July last year. This year we are seeing a much higher level of sales activity in the $200,000 to $499,999 price range as buyers take advantage of the continuing low interest rates to move up to more substantial homes. Sales in the $200,000 to $350,000 segment are up 12% with 561 sales reported this year compared to 502 in 2011. In the $350,000 to $499,999 range, sales are similarly up 11% with 161 properties sold year-to-date versus 145 last year.

  There continues to be an abundance of inventory listed for sale. Year-to-date 4,246 new listings have been processed compared to 4,033 in the first 7 months of last year, an increase of 5%. Essentially 1 out of every 3.6 properties listed for sales sells. At the end of July there was 25 months of unsold housing inventory on the market.

  In my next posting I will review year-to-date area sales by type ie: single family versus condo etc. as well as how sales are stacking up in the various municipalities throughout our area. In the meantime, should you have any questions or to confidentially discuss your personal real estate goals, please do not hesitate to Contact Me.

Area Real Estate Sales Soften in June

After robust sales activity in the first 5 months of the year, area real estate sales softened in June. MLS® sales for the month as reported by the Georgian Triangle Association of REALTORS® (GTAR) were down 15% with a total of 166 properties being sold this past month versus 196 in June 2011. Dollar revenue for the month of $45.7 million represented a 20% decrease from the $57.2 million worth of properties sold through MLS® in June of last year.

MLS® sales activity reported through the GTAR (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, Blue Mountains, Grey Highlands and Meaford) posted a gain of 9.7% for the 1st half of 2012 with 977 properties changing hands in the first six months of the year versus 891 in the 1st half of 2011. Overall, June Year-to-Date (YTD) sales volume in 2012 totaled $279.6 million reflecting a 4.5% increase over June YTD 2011 sales of $267.7 million.

Sales activity in several price ranges showed a marked improvement in the 2nd quarter of 2012 compared to the same period last year. Sales in the bottom half of the market have been particularly strong which is encouraging to see. Unit sales below $250,000 totaled 297 in the 2nd quarter of 2012 marking a 13.4% increase over 2nd quarter 2011 results; in the $250,000 - $499,999 price range, 2nd quarter sales of 230 properties represented a 4.6% decrease over the 2nd quarter of 2011.

In the $500,000 - $999,999 price range, 2nd quarter sales of 43 properties reflected a 22.9% increase in this price range for 2012, compared to the 35 properties sold in the 2nd quarter of 2011. It should be noted however that sales between $700,000 to $800,000 and $900,000 and $1 million are running 36% and 85% respectively below last year. Likewise sales above $1.5 million are also weaker with just 2 sales in 2012 compared to 4 last year.

The number of new MLS® listings during the 2nd quarter of 2012 totaled 2,061 units, up 5.2% from the 2nd quarter of 2011. The number of expired listings year-to-date 2012 totaled 1421 properties, up 12.7% over the same period last year. First quarter's statistics reflect the fact that 1 in every 4 houses listed for sale actually sell.

  In my next post I will review area sales by municipality.