As predicted, sales in November moderated which is always the case as we approach the winter months. Having said that, it was still relatively strong with 9% more sales in the month compared to November 2012. Year-to-date, there have been 2009 sales; up 7.5% over this time last year with dollar volumes up by 8.8% reflecting continued strong activity in the upper tier and prices holding firmer than they were a year ago.
The number of listings year-to-date are down 2% however, there was a surge in the month of November with 428 new listings – an increase of 10% over 2012. The sale to listing ratio, which is the percentage of properties that sell, sits at a 4 year high at 32.89. The average residential sale price is also up by 3.8% over a year ago at $333,442.
When we breakdown the market data by area, there are some significant differences in the communities we serve. Collingwood for example, actually had one less sale last month compared to November 2012 while Meaford sales were up 26.4% as you can see below. Most of the areas we serve are approaching or already have balanced market conditions in the residential sector led by Colingwood with a sale-to-list ratio of 46%. There were 2042 active listings for sale on the MLS® system as of the end of the month.
Typically sales moderate significantly in December to less than 100 units sold. With an early start to winter with Blue Mountain already open, the month may surprise us yet. Stay tuned.
All statistics collected from the South Georgian Bay Association of REALTORS® MLS® system.
It’s always a pleasure to meet new people and to assist them in meeting their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to email me or call at 705-446-1762.