Collingwood and Area Real Estate Barometer Oct. 17-23, 2014

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This market summary includes data for Collingwood, Blue Mountains, Wasaga Beach, Clearview, Grey Highlands and Meaford. The information was obtained from the MLS® statistics provided by the Southern Georgian Bay Association of REALTORS®. Previous week(s) in brackets.

Single Family Residentialbarometer
New Listings: 27 (31, 49, 47)
Average List Price: $408,530
Range of List Prices: $158,800 – $2,395,000
Number of Sales: 26 (26, 29, 27)
Range of Sale Prices: $117,000 – $1,225,000

Condominiums
New Listings: 9 (7, 21, 21)
Average List Price: $242,556
Range of List Prices: $101,500 – $389,900
Number of Sales: 14 (13, 8, 6)
Range of Sale Prices: $118,540 – $297,000

Vacant Land
New Listings: 9 (5, 5, 5)
Number of Sales: 4 (3, 3, 3)
Range of Sale Prices: $120,000 – $350,000

Price Changes 20

Notables this week:

– 1 single family residence sold for more than it’s list price

– 1 single family residence sold at it’s list price

– 1 vacant land listing sold for more than it’s list price

 


Note
: All statistics obtained from the Southern Georgian Bay Association of REALTORS® Real Estate Board

Some Times, Back-Up Offers Work

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back-up offers

Right now, there are several houses in the Collingwood, Blue Mountain area that have conditional offers pending on them. Sometimes this is because the buyer has a home to sell or, it may be conditional for a short period of time while the buyer gets approval for financing or has a home inspection and so forth. During this time, the seller cannot enter into another firm agreement with another buyer.

I’ve often been asked if someone could offer more to bump out the first offer and the answer is no if an offer has already previously been accepted by the seller and is still in the conditional period. Here is an example.

Let’s say Mr. Smith has his home for sale for $325,000. Mrs. Jones comes along and makes an offer to buy the house for $320,000 subject to her being able to secure financing and have a home inspection on the property within 7 days. Mr. Jones accepts the offer and now, there is a conditional offer pending. The house remains on the market because the agreement with Mrs. Jones is not yet binding. Along come the Carter family the next day. They just love the house and are willing to give Mr. Smith the full $325,000 he was asking. What happens now?

In this case, Mr. Smith is not at liberty is simply accept their offer as Mrs. Jones still has another six days during which she has the property “tied up” so to speak. What Mr. Smith can do though instead, is accept the offer and insert a condition of his own saying that in the event Mrs. Jones does not remove her conditions by the end of the 7 day period, then he accepts their offer. For the Carter family, they would now be in what we call “back-up” position.

Does it work? I’ve had four such situations in the last few months. In two cases it did not work for my buyers as the first buyer did fulfill their condition. In two other cases, it did work for the buyer and the back-up offers were ultimately the successful buyers. In one case, I was representing the seller and we actually had competing back-up offers. It can be confusing for the buyers and sellers involved but it is our job as REALTORS® to guide them through the process.

Collingwood: Seasons of Change

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Collingwood Seasons of Change

Rogers TV has been airing an excellent, half hour documentary by Steve McEown that profiles the changes in Collingwood from a ship-building community to what it is today. It was well done and features many of my clients, co-worker Linda Lavers and even I get my five minutes of fame.

Click on the image above to view. A quick commercial comes first.

Collingwood and Area Real Estate Barometer Oct. 10-16, 2014

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This market summary includes data for Collingwood, Blue Mountains, Wasaga Beach, Clearview, Grey Highlands and Meaford. The information was obtained from the MLS® statistics provided by the Southern Georgian Bay Association of REALTORS®. Previous week(s) in brackets.

Single Family Residentialbarometer
New Listings: 31 (49, 47, 42)
Average List Price: $583,219
Range of List Prices: $224,900 – $1,200,000
Number of Sales: 26 (29, 27, 29)
Range of Sale Prices: $95,000 – $1,150,000

Condominiums
New Listings: 7 (21, 21, 11)
Average List Price: $343,943
Range of List Prices: $125,800 – $629,000
Number of Sales: 13 (8, 6, 9)
Range of Sale Prices: $126,000 – $600,000

Vacant Land
New Listings: 5 (5, 5, 8)
Number of Sales: 3 (3, 3, 5)
Range of Sale Prices: $52,000 – $95,000

Price Changes 20

Notables this week:

Number of listings may be down as we had a holiday Monday.


Note
: All statistics obtained from the Southern Georgian Bay Association of REALTORS® Real Estate Board

How Much Is The Other Offer For?

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ConfidentialMany people who are trying hard to buy houses here in the Collingwood and Blue Mountain areas are getting a little frustrated. We’ve had a sustained busy market for several months now and there is a shortage of options for house buyers in certain areas or in certain price ranges.

One of the real frustrations people have is when they view a house they love only to find out that a conditional offer has just been accepted. When this happens, the first question I’m always asked is,

Do you know how much the other offer is for?

The answer is no. When a conditional offer is accepted, the sale price remains confidential, even to other REALTORS® until the sale is firm and binding. The reason for this is that the listing brokerage has an obligation to protect the best interests of their client – the seller and so, disclosing the sale price may prevent someone else from ever offering more once they know what the seller agreed to. In the case where a brokerage represents both a seller and a buyer, the price cannot be disclosed either without the written consent of the seller.

The New Collingwood Centre Shopping Plaza

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Here is the site plan for the redeveloping mall, or should I say, shopping centre in Collingwood’s west end where the Zellers used to be.  I had wondered what was going in that freestanding building on the west side and now we know.  Carter’s Osh Kosh.

Collingwood Centre Shopping

Collingwood and Area Real Estate Barometer Oct 3-9, 2014

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This market summary includes data for Collingwood, Blue Mountains, Wasaga Beach, Clearview, Grey Highlands and Meaford. The information was obtained from the MLS® statistics provided by the Southern Georgian Bay Association of REALTORS®.  Previous week(s) in brackets.
barometer

Single Family Residential
New Listings: 49 ( 47, 42, 44)
Average List Price: $393,051
Range of List Prices: $109,000-$1,495,000
Number of Sales: 29 (27, 29, 22)
Range of Sale Prices: $199,900 – $704,000

Condominiums
New Listings:  21 (21, 11, 12)
Average List Price: $288,745
Range of List Prices: $115,000 – $724,900
Number of Sales: 8 (6, 9, 5)
Range of Sale Prices: $118,000 – $290,000

Vacant Land
New Listings: 5 (5, 8, 10)
Number of Sales: 3 (3, 5, 2)
Range of Sale Prices: $15,500 – $690,000

Price Changes 30

Notables this week:
1 single family home sold at it’s list price.

 

Note: All statistics obtained from the Southern Georgian Bay Association of REALTORS® Real Estate Board

Please VOTE Even If You Are New To Town or a Part Time Resident

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Election signs

While we don’t have Rob Ford running in South Georgian Bay, we have our own scandals, aspirations, positives and negatives to deal with here in South Georgian Bay. In Collingwood, the OPP is into its 20th month of investigating issues of local corruption with no results as yet.

Although the municipal election date in Ontario isn’t until October 27th, many local municipalities are using mail-in ballots and they went out last week. This means the election could already be over – even if we don’t know the results.

The key issues we are hearing about this time around in most of the local areas are about transparency and leadership, development pressures, fiscal management, economic development, a possible in casino in the case of Collingwood and Wasaga Beach, waterfront development and as always, a vision for the future.

If you own a home in the area, hopefully you intend to exercise your right to vote. You don’t have to vote for a full slate so if just one or two people have captured your imagination and values, you can just vote for them. Our communities are best when we participate in this democratic privilege. Every vote really does matter in a small town and in past years, I’ve seen just a few votes separate the winners and the losers.

Lakeside Pointe in Collingwood

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13 Silver Crescent Web 39

Lakeside Pointe is located on the east end of Collingwood and is made up of 66 freehold homes on 50 foot lots. The overall site sits on the shores of Georgian Bay adjacent to the Blue Shores development with most homes built since 2010. This fully SOLD OUT development offers appealing streetscapes with Seaside-inspired architecture made up of soft colour palettes, interesting roof lines, varied balconies and portico windows that are inviting and so easy on the eyes.

The project was built by Eden Oak, a company that has been building homes for over 25 years and focusses on “visionary designs and finishes.”  The neighbourhood has attracted a mixed demographic made up of both full-time and part-time residents ranging from families with young children to retirees that enjoy an active lifestyle. Everyone seems to get along well and every year, the whole neighbourhood gets together for a potluck social. Properties are well maintained and many are beautifully landscaped.

The other day, I took a 3 minute walk down the trail leading to the shoreline and I’m so glad I did. The shoreline is quiet and crystal clear beckoning you to sit and stay awhile which I really wished I could have! It’s easy to imagine popping in a kayak for a morning paddle or swimming out as the sun sets in the west.

13 Silver Crescent Web 36

I’ve just listed a grand home at 13 Silver Crescent. It’s the largest of the non-waterfront floor plans and is the same design as the original model home.

13 Silver Crescent Web 20

With 3200 square feet of space, this home has all the space anyone could need including 4 bedrooms, 2.5 baths, a main floor den/office, a semi-formal dining area, main floor laundry and best of all, a stunning living room with soaring vaulted and beamed ceilings anchored by a floor-to-ceiling, stacked stone(gas) fireplace. The custom kitchen features Frendel cabinetry and a large centre island as well as breakfast area leading to an immaculately landscaped yard with a huge deck for entertaining or relaxing.

The present owners have invested six figures in upgrades making this a wonderful opportunity for an astute buyer at $575,000, You can find out more at www.13SilverCres.com or watch the video below.

September 2014 Real Estate Market Recap For Collingwood, Blue Mountain and Area

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As expected, the South Georgian Bay real estate market remained brisk through September with numbers that topped levels seen in both the previous month and year.

In the six key areas we serve – Clearview, Collingwood, Grey Highlands, Meaford, Town of the Blue Mountains and Wasaga Beach, there were 135 single family homes sold compared to 129 in August. 47 condo units sold versus 39 in the previous month. Building activity may be active next spring as we saw 17 sales of vacant land last month and 11 in August.

In the Town of Collingwood, there were 28 homes sold last month including 8 sales over $500,000 with two of those being over $1m. Anything over $500,000 represents the top 10% of the market. In the Town of Blue Mountain, there were 16 sales last month and almost half of those, 7, were in the upper tier with two sold over $1m.

With sales staying strong in all price bands including the upper tier, consumer confidence appears to be solid in the real estate market. Properties that are well priced and presented are selling in a timely fashion. As October is typically even busier than September, we can expect continued strong activity this month.

The inventory of houses, chalets and condos, especially under $350,000, is becoming very limited and driving up prices. If you are wondering if it is a good time to buy or sell, feel free to get in touch for a chat about your specific needs.

All data collected from the MLS® statistics of the Southern Georgian Bay Association of REALTORS®

RE/MAX four seasons realty limited, brokerage  ♦  67 First Street Collingwood, ON L9Y 1A2  ♦  705-445-8500