This market summary includes data for Collingwood, Blue Mountains, Wasaga Beach, Clearview, Grey Highlands and Meaford.

Single Family Residential
New Listings: 53 (52, 52, 70)
Average List Price: $423,175
Range of List Prices: $99,900 – $1,895,000
Number of Sales: 17 (9, 19, 13)
Range of Sale Prices: $156,000 – $1,375,000

Condominiums
New Listings: 15 (12, 21, 17)
Average List Price: $267,119
Range of List Prices: $139,990 – $469,000
Number of Sales: 5 (2, 3, 10)
Range of Sale Prices: $116,000 – $1,055,000

Vacant Land
New Listings: 9 (14, 26, 31)
Number of Sales: 4 (1, 3, 4)
Range of sale prices: $250,000

Price Changes (up or down): 26

In a continuation of the momentum that started in September last year, January proved to be another strong month for our local real estate market with sales up significantly compared to a year ago.

The Georgian Triangle area includes the communities of Clearview, Collingwood, Blue Mountain, Wasaga Beach, Grey Highlands, Meaford and surrounding areas such as Tiny, Springwater and Mulmur Townships to an extent.

Here are the highlights for our January real estate market:

NEW LISTINGS:  509 properties were listed for sale compared to 468 last year; a 4% increase.. There are currently 1829 active listings for sale on the Georgian Triangle MLS® system

JANUARY SALES:
-    There were 104 sales in January 2012 compared to 81 in 2011; an increase of 37%
-    The 104 sales break down as follows:

87 residential units (23 were condos)
2 farms
13 vacant land sales
2 commercial

-    The most active RESIDENTIAL price ranges were as follows:

$150,000 – $249,999 (31 sales)
$250,000 – $349,999 (21 sales)
$350,000 – 499,999 (17 sales
There were 8 sales over $500,000 including 4 sales over $1 million.

BREAKDOWN OF THE SIX KEY AREAS  (Figures in brackets are from January 2011.)

NOTE:  These statistics are compiled using data from the MLS® system of the Georgian Triangle Association of REALTORS®

Single Family Residential
New Listings: 52 (52, 70, 45)
Average List Price: $477,652
Range of List Prices: $89,900 – $1,950,000
Number of Sales: 9 (19, 13, 9)
Range of Sale Prices: $145,000 – $850,000

Condominiums
New Listings: 12 (21, 17, 32)
Average List Price: $273,104
Range of List Prices: $104,000 – $669,000
Number of Sales: 2 (3, 10, 3)
Range of Sale Prices: $175,000 – $220,000

Vacant Land
New Listings: 14 (26, 31, 15)
Number of Sales: 1 (3, 4, 1)
Range of sale prices: $426,000

Price Changes (up or down): 38

Notables this week:
*1 vacant land listing sold above it’s list price

Single Family Residential
New Listings: 52 (70, 45, 12)
Average List Price: $420,596
Range of List Prices: $90,000 – $2,495,000
Number of Sales: 19 (13, 9, 13)
Range of Sale Prices: $113,000 – $1,010,000

Condominiums
New Listings: 21 (17, 32, 5)
Average List Price: $293,648
Range of List Prices: $119,500 – $1,195,000
Number of Sales: 3 (10, 3, 3)
Range of Sale Prices: $122,500 – $410,000

Vacant Land
New Listings: 26 (31, 15, 1)
Number of Sales: 3 (4, 1, 1)
Range of sale prices: $50,000 – $285,000

Price Changes (up or down): 17

Notables this week:
*1 single family residential listing sold at it’s list price

Single Family Residential
New Listings: 70 (45, 12, 35)
Average List Price: $621,678
Range of List Prices: $124,900 – $4,147,455
Number of Sales: 13 (9, 13, 23)
Range of Sale Prices: $188,000 – $1,190,000

Condominiums
New Listings: 17 (32, 5, 25)
Average List Price: $284,559
Range of List Prices: $85,900 – $990,000
Number of Sales: 10 (3, 3, 6)
Range of Sale Prices: $83,400 – $560,000

Vacant Land
New Listings: 31 (15, 1, 16)
Number of Sales: 4 (1, 1, 0)
Range of sale prices: $89,000 – $350,000

Price Changes (up or down): 22

Notables this week:
*1 condo listing sold at it’s list price
*1 vacant land listing sold at it’s list price

Planners Part 1 -  Rob Armstrong, Director of Planning and Building Services, Municipality of Meaford

Rob told us that Meaford has adopted urban design standards, and a Heritage Conservation District Plan.  Year-to-date building stats are down over last year (2010.)  The Health Unit is getting out of the business of septic approvals – now application must be made to the Municipality.

The consolidated zoning by-law and related maps are all online now on the Meaford website, as well as other important documents such as their Official Plan and a Development Summary complete with interactive maps.

When summarizing current development activity, Rob mentioned:

Meaford Haven – with 400+ residential units, a senior’s home and a commercial component, this is the largest development in Meaford’s history.

Meaford Highlands Resort – 350 acres on the 3^rd line which is in preconsultation stage.

Meaford Legion Development – 4 storey building with 3 levels of units plus the legion – zoning has been approved – expected to proceed in 2012

Gates of Kent – another 30 units will be built

Downtown – 2 major intensification projects are being considered 

Wind Turbines: 

• MinnieHill – application for single turbine has been withdrawn. 
• Silcote Corners – near the tank range in Meaford – this is still an active file, but it is on hold a the moment as the FIT application has not yet been approved.

Single Family Residential
New Listings: 45 (12, 35,35)
Average List Price: $460,197
Range of List Prices: $119,000 – $2,495,000
Number of Sales: 9 (13, 23,14)
Range of Sale Prices: $115,000 – $318,000

Condominiums
New Listings: 32 (5, 25,27)
Average List Price: $357,609
Range of List Prices: $115,900 – $750,000
Number of Sales: 3 (3, 6,6)
Range of Sale Prices: $139,000 – $284,900

Vacant Land
New Listings: 15 (1, 16,3)
Number of Sales: 1 (1, 0,0)
Range of sale prices: $145,000

Price Changes (up or down): 17

Notables this week:
*1 condo listing sold at it’s list price

I’m happy to report that the real estate market is alive and well in Canada including here in the Collingwood – Blue Mountain and area marketplace.  2011 followed very similar patterns to other economic sectors with a slow start in the first half of the year and a gradual improvement leading to a pretty strong finish in the last quarter.

The economic turbulence that we are witnessing around the world did not lead to a retreat in residential sales and prices.  While we are not immune to the effects of global turmoil, Canadians seem to be proactive in advance of rising housing values and expected rising interest rates ahead.  Here’s how things looked locally.

There were a total of 1869 sales of all types in all areas reporting on the Georgian Triangle Association of REALTORS® MLS® system.  In addition to 1161 single family home sales, there were also 352 condo sales, 127 vacant land sales and 35 sales of industrial or commercial land and buildings

(Point of Interest: There were an average of less than 10 sale ends per REALTOR®)

Of the 1869 total sales:
• 584 (31.2%) were under $200,00
• 686 sales (36.7%) were between $200-$300,000
• 422 Sales (22.6%) were priced between $300-$500,000
• Almost 68% of all sales were below $300,000
• 177 (9.5%) were over $500,000 representing the top tier of the Georgian Triangle marketplace.  There were 29 sales over the one million dollar mark including 7 over 1.5 million.

Here is a chart showing the number of sales, of all types, in the full area month by month:

Click to Enlarge

While the year started out well behind 2010, by the final quarter, sales in 2011 pulled well ahead of 2010 with a strong finish in the month of December. 

At the end of December, there were 1722 properties listed for sale compared to 1592 in December 2010.  So while we are seeing an increase in demand, we also have increased supply which has the effect of holding the sales-to-listing ratio below 30%.  This means that it is still buyer’s market conditions in most areas.

The Georgian Triangle reporting area includes several communities that overlap with other reporting areas such as Essa, Tiny, Mulmur, Springwater and areas completely outside of our board area.  These are all included in the statistics yet may not present an accurate view of those communities. 

Below is a breakdown of sales data for the six KEY areas of the Georgian Triangle including Collingwood, Blue Mountain, Wasaga Beach, Meaford, Clearview and Grey Highlands.

Click to enlarge

Click to Enlarge

Note:  2007 was a peak year that was followed by a recession in mid 2008- mid 2009.  You can see by the charts that the recovery has been slow but steady.  I wouldn’t say we aspire to reach 2007 levels again soon as it was an inflated boom year. Despite that, average sale prices have clearly risen well beyond that point.

Here is a breakdown showing the 12 month average, single family residential sale price (Number of Sales By Area)

Collingwood  $289,747 (303)
Blue Mountains  $552,280 (153)
Wasaga Beach  $276,400 (385)
Clearview  $293,098 (155)
Meaford   $288,991   (88)
Grey Highlands  $325,521   (77)

CONDOMINIUMS

Condominiums represent a large part of the market – especially in Collingwood and Blue Mountain were 93% of all area condo sales take place.  Condominiums in fact represented 40% of all dwelling units sold in Collingwood in 2011 and 45% of dwelling unit sales in the Town of Blue Mountains.  Here is a chart with a breakdown of sales and average sale prices:

Click to Enlarge

 Predictions

It looks like I was lucky AGAIN with my predictions last year for the 2011 market since they turned out as I had projected. At this point, I feel like I’m tempting fate to go for another year but hey, what’s the worst that can happen?  I’ll never hold as bad a record as poor Garth Turner!

- I think we’ll see a slowdown in local housing starts with some new development plans shelved for awhile due to a continued over-supply in the new home market

- Continued stability and momentum for at least the 1st half of 2012.  After that, potential interest rate hikes and global market instability could moderately cool the housing market if at all

- I suspect we will see an increase of about 1% in average sale prices due to the continued strength in the upper tier market.  This does not translate to a general increase in residential median prices

- It’s possible that the combination of high consumer debt loads and slower economic growth may lead to a new round of tightened mortgage regulations but any impact of that, if any, is impossible to predict without knowing what those changes might be.

- Consumer confidence in Canada has remained surprisingly high and investors are anxious to increase their real estate holdings while money is cheap and other financial markets generate poor returns.  As people continue to buy to get ahead of potential rising interest rates and prices, this area in particular is poised to remain stable.

- Unless there is a significant shift in economic policies or crisis in the global markets, I would expect that the number of sales in 2012 will be at least equal to 2011 or more likely, slightly higher than in 2011.

So here we go.  Let the buying and selling begin.  Happy New Year!

P.S.  If you haven’t already done so, you may wish to subscribe to my monthly newsletter with updated market conditions, local news, great new businesses in town and some great tips.  You can subscribe by clicking here.

Single Family Residential
New Listings: 12 (35,35,47)
Average List Price: $493,300
Range of List Prices: $289,900 – $875,000
Number of Sales: 13 (23,14,17)
Range of Sale Prices: $110,000 – $875,000

Condominiums
New Listings: 5 (25,27,22)
Average List Price: $487,760
Range of List Prices: $154,900 – $799,000
Number of Sales: 3 (6,6,3)
Range of Sale Prices: $144,000 – $324,900

Vacant Land
New Listings: 1 (16,3,6)
Number of Sales: 1 (0,0,3)
Range of sale prices: $50,000

Price Changes (up or down): 7

Notables this week:

*1 single family dwelling listing sold over it’s list price
*1 condo listing sold at it’s list price

Single Family Residential
New Listings: 35 (35,47, 41 )
Average List Price: $607,947
Range of List Prices: $169,900 – $2,250,000
Number of Sales: 23 (14, 17, 22)
Range of Sale Prices: $75,000 – $755,000

Condominiums
New Listings: 25 (27, 22, 10)
Average List Price: $341,772
Range of List Prices: $93,500 – $719,900
Number of Sales: 6 (6, 3, 10 )
Range of Sale Prices: $148,687 – $373,000

Vacant Land
New Listings: 16 (3, 6, 14)
Number of Sales: 0 (0, 3, 2)
Range of sale prices: $0

Price Changes (up or down): 16

Notables this week:

*1 single family dwelling listing sold over it’s list price