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Collingwood – Blue Mountain Real Estate Market SNAPSHOT – February 2017

Posted by SellingCollingwood on March 15, 2017
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Residential sales recorded through the MLS® System of the Southern Georgian Bay Association of REALTORS® came in below year-ago levels in February 2017.
Home sales numbered 205 units in February 2017, the second best February on record but still down 9.7% from the record a year earlier. Year-to-date home sales numbered 333 units, down 12.6% from this time last year.

The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, Municipality of Meaford and part of Grey Highlands fell 15.1% on a year-over-year basis to 135 units in February 2017. Year-to-date home sales in the Western Region numbered 221 units, down 13.3% from this time last year.

“Sales in both the Western and Eastern Districts rose noticeably compared to the last few months to hit their second highest February levels on record,” said Stan Reljic, President of the Southern Georgian Bay Association of REALTORS®. “It was likely the rise in new listings in February that allowed for the increase in sales. Hopefully this is the start of an upward trend for supply, because that is what this market needs most right now.”

The number of new residential listings in February 2017 was 244 units, down 21.8% from a year earlier. That said, it was a considerable improvement following a year-over-year decline almost twice as large in January.

Overall supply stands at record lows. There were just 410 active residential listings on the Association’s MLS® System at the end of February 2017, down 51% from year-ago levels.

There were just two months of inventory at the end of February, down from 3.7 months recorded at the end of February 2016 and well below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The value of all residential transactions in February was $82.6 million, rising 6.6% per cent from February 2016. This was a record for the month and marked the first February to rise above $80 million.

Sales of all types of properties numbered 257 units in February, edging down 0.8% compared to the same month in 2016. The total value of all properties sold in February 2017 was $99.9 million, up 14.9% from February 2016.

All Real Estate Western Region
Listings:
The number of listings for all property types was down -21.8% at 408 listings, from 522 listings in February 2016.
Sales: The number of sales units for all property types was down -0.3% at 285 sales, from 286 sales inFebruary 2016.
Sales Dollar Volume: February 2017 sales $129,600,030, up 23% from 2016 ($105,402,643).

Residential Real Estate Western Region

Listings: The shortage of listings didn’t improve in the second month of 2017, with 175 new listings, down -14.6% from February 2016. The total number of active residential listings decreased by -48.8% from 2016.
Sales: The total # of residential units sold in the Western Region fell -15.1% on a year-over-year basis to 135 units in February 2017. This decrease is related to the record low inventory. Residential single family home sale prices increased year over year in all areas of the Western Region.

Residential (Single Family) February 2017 by Area

Clearview

  • #Listings 9 – down – 60.9% (2016 – 23) | Year to date listings down – 50%
  • # Sales 15 – up 15.4% (2016 – 13) | Year to date sales up 33%
  • 12 Month Average Price $502,356, up 36.9% (2016 –$366,896)
  • Monthly Sales to Listing Ratio 167%

Collingwood

  • #Listings 25 – down -19.35% (2016 – 31) | Year to date listings down – 24%
  • # Sales 15 – down -25% (2016 – 20) | Year to date sales down -44%
  • 12 Month Average Price $460,067, up 23.% (2016 – $373,907)
  • Monthly Sales to Listing Ratio 60%

Grey Highlands

  • #Listings 2 – down -50% (2016 – 4) | Year to date listings down – 50%
  • # Sales 3 – no change  (2016 – 3) | Year to date up 16.7%
  • 12 Month Average Price $504,327, up 21.3% (2016 – $415,833)
  • Monthly Sales to Listing Ratio 150%

The Blue Mountains

  • #Listings 30 – up 36.3% (2016 – 22) | Year to date listings up 4.35%
  • # Sales 16 – up 33.3% (2016 – 12) | Year to date Sales up 35%
  • 12 Month Average Price $683,076, up 8.4% (2016 – $630,018)
  • Monthly Sales to Listing Ratio 53%

Municipality of Meaford

  • #Listings 12 – up 9% (2016 – 11) | Year to date listings up 53%
  • # Sales 9 – up 350% (2016 – 2) | Year to date sales up 50%
  • 12 Month Average Price $357,840, up 15.6% (2016 – $309,557)
  • Monthly Sales to Listing Ratio 75%

Wasaga Beach

  • #Listings 40 – down -42.8% (2016 – 70) | Year to date listings down -41.3%
  • # Sales 33 – down – %25 (2016– 44) | Year to date sales down -11.8%
  • 12 Month Average Price $357,578, up 13.3% (2016 – $315,681)
  • Monthly Sales to Listing Ratio 83%

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    CLAIRWOOD Real Estate Corporation, Brokerage

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