After endless bad news, I’ve noticed the media has been starting to report the odd bits of good news with respect to the Canadian real estate market. In some areas of the GTA, sales and prices rose last month. Across Canada, CMHC states that, after comparing month-over-month change in adjusted prices, the price trend is now beginning to rise again for the first time since the beginning of the year.
Here are highlights of our Georgian Triangle marketplace based on data collected through the MLS™ system of the Georgian Triangle Real Estate Board:
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Total number of new listings were down slightly in August but are up 8% YTD
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The number of residential sales in August were down 27% compared to the same month last year
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Number of residential sales YTD are down 13.4%
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YTD average sale price is down slightly compared to a year ago.
Looking at specific areas:
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Collingwood is on par in the number of sales with last year for the month and YTD and, the average sale price is up suggesting balanced market conditions exist in-town
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Clearview is down marginally over last year and has moved into a buyer’s market range
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Meaford sales are down by just 16 units YTD and this area continues to have the highest sales to list ratio, suggesting it is still balanced
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The Town of the Blue Mountains is down slightly YTD in number of units sold and pricing although almost on par with 2007
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Wasaga Beach had another tough month with 38 sales in August 08 compared to 57 in the same month last year with units sold down 24% YTD. The sales to listing ratio is still at 39% and the 12 month average sale prices are also up slightly
Over-all, there are 2140 active listings in the MLS™ system as at months end. The most active price range is from $150,000 to $250,000. Sales over 1 million dollars are down 50% from last year with 8 such sales YTD compared to 16 by this time last year.
We should remember that 2007 was a record-breaking year and also, that new home sales are not captured in any of these statistics. While it’s clear the run-up has ended, we are still seeing fairly balanced market conditions in most of the Georgian Triangle with moderate price increases. Both Buyers and Sellers need to sharpen their pencils, be realistic and thoughtful in their decisions based on specific market data that should be provided by their REALTOR™.
Related Posts:
Housing Market Outlook Report Released
A Look At Real Estate Market Conditions in Collingwood & Blue Mountain
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