Collingwood, Blue Mountain and Area Real Estate Market Recap for 2012

Whew.  I’m doing the happy dance.  I took a deep breath just now and went back to look at my predictions for the Collingwood, Blue Mountain and area real estate market for 2012.  Dang if I wasn’t bang on again!  Woo hoo.

I’m happy to report that the real estate market did continue to be alive and well in the Georgian Triangle area marketplace.  The year started out strong and remained stable through most of the year with some softening in the last two months of 2012.

First, some trivia for your next cocktail party or bowling bash:  Did you know that 76% of all sales of all kinds in the Georgian Triangle were under $350,000? On the other hand, did you know that, according to Macleans magazine, Collingwood ranks 14th in Canada for having the most one-percenters (folks who earn over $250,000 a year) per 1,000 people?

Once again, the negative world economic news we were bombarded with in the media did not lead to a retreat in residential sales or sale prices in our region. Interest rates remained surprisingly stable, Canada continued to post new job growth and housing values continued to grow at a moderate pace.

There were a total of 1953 sales of all types in all areas reported on the Georgian Triangle Association of REALTORS® (GTAR) MLS® system last year.  In addition to 1306 single family home sales, there were also 353 condo sales, 125 vacant land sales and 34 sales/25 leases  of industrial or commercial land and buildings.  It is worth noting that the number of condo, land and ICI sales were almost identical to the previous year with all gains having been made in the single family home market.

(Point of Interest: This represents an average of about 9 sales ends per REALTOR® for the year)

Of the 1953 total sales:

• 580 were under $200,00
• 912 sales were between $200-$349,999
• 262 sales were priced between $350-$499,999
• Almost 76% of all sales were below $350,000
• 199 were over $500,000 representing the top 10% of sales in the Georgian Triangle marketplace.  There were 26 sales over the one million dollar mark including 4 over 1.5 million.

Here is a chart showing the number of sales, of all types, in the full area month by month:
Total # Unit Sales 2012At the end of December, there were 1764 properties listed for sale; almost the exact same inventory level as we started out the year with.  Through the course of the year, there were a total of 6524 properties listed for sale.  After adjusting for the carry-over into the new year, it should be noted that less than 1 in 3 properties for sale sells.

The year ended with a sales-to-listing ratio of 29.94% compared to 28.81% at the end of 2011. This means that it is still a buyer’s market in most areas however, we have micro markets in the Georgian Triangle and it is very important to consider your own market individually.  For example, the residential sales to listing ratios in Collingwood and Wasaga Beach are over 40% and in stable market territory; neither a buyers nor sellers market whereas areas like Meaford and the Town of Blue Mountains are solidly in buyer’s market ranges.

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.

CONDOMINIUMS

Condominiums represent a large part of the market – especially in Collingwood and Blue Mountain where over 90% of all area condo sales take place.  Condominiums represented 37.8% of all dwelling units sold in Collingwood in 2012 and 42.6 of dwelling unit sales in the Town of Blue Mountains.  Here is a chart with a breakdown of sales and average sale prices:

Georgian Triangle (all areas) 2012 MLS® Condominium Sales

Total Units Sold (2011 in brackets):    353 (352)
Average List Price:            $248,564 ($241,998)
Average Sale Price:            $238,641 ($231,101)

Collingwood Only:
Average Condominium Sale Price by Number of bedrooms (No. of sale in brackets)

•    0/1 br            $170,436  (14)
•    2 br            $185,776  (90)
•    3 br            $308,762  (75)
•    4+ br            $381,039  (22)

Town of Blue Mountains Only:
Average Condominium Sale Price by Number of bedrooms (No. of sale in brackets)

•    0/1 br            $125,226  (31)
•    2 br            $122,144  (36)
•    3 br            $296,490  (37)
•    4+ br            $373,857  (14)

Comments:  Average sale prices of condominiums in Collingwood climbed significantly but may be due to the final release and sales of The Shipyards condominiums which were not sold via the MLS® in prior years.  Condominium sale prices moderated in most areas of the Town of Blue Mountains led by price declines in and around the Village at Blue where supply exceeds demand.

 Predictions:  I got so stressed about predicting again that I did it a few days ago in a separate post which you can read here.  All in all, more of the same ahead.

Now, please tell me what YOU think. At least let me know you read this so I know my Saturday morning has been well spent doing this instead of laundry.  Thanks.

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.

 

 


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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Saturday, January 5th, 2013 at 1:25 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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