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Collingwood – Blue Mountains Real Estate Market 4th Quarter 2015

Posted by SellingCollingwood on January 14, 2016
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Sales activity in both the Western and Eastern Districts was up on a year-over-year basis in the fourth quarter of 2015 in the area covered by Southern Georgian Bay Association of REALTORS®.

The Southern Georgian Bay Association of REALTORS® comprises two distinctive markets. Home sales in the Western District which includes Wasaga Beach, Collingwood, Clearview Township, The Blue Mountains, Municipality of Meaford and Grey Highlands rose 6.1 per cent from a year earlier to 467 units. This was the highest level of any fourth quarter on record. Detached sales in this district were up 28.8 per cent on a year-over-year basis to the best fourth quarter on record.

Annual home sales in the Western District totalled 2,099 units, rising 7.1 per cent from 2014. Annual detached sales were up 23.9 per cent to 1,507.

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Sales by Area

Collingwood

Detached sales numbered 59 units in the fourth quarter of 2015, rising 25.5 per cent from the fourth quarter a year earlier. Annual detached sales in this area numbered 337 units, an increase of 8.7 per cent over 2014.

The number of months of inventory stood at 2.3 at the end of the fourth quarter, down from 6.3 months recorded at the end of the fourth quarter of 2014 and the lowest level on record. 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.

Facing a tighter market, homebuyers took less time to shop around in the fourth quarter of 2015 than they had a year earlier. The median number of days on market for detached sales was 38, down 24 days from the previous fourth quarter.

The median sale price was up 16.7 per cent on a year-over-year basis to a record $332,500 in the fourth quarter of 2015.

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Town of the Blue Mountains

Detached sales in the Town of the Blue Mountains numbered 32 units in the fourth quarter of 2015, jumping 52.4 per cent from levels recorded a year earlier. Annual detached sales totalled 173 units, an increase of 55.9 per cent from 2014.

The number of months of inventory was 17.2 at the end of the fourth quarter, up from 10.2 months at the end of the fourth quarter of 2014. 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.

Regardless of a more balanced market, homebuyers took less time to shop than they had a year earlier. The median number of days on market for detached sales was 54.5 in the fourth quarter of 2015, 18.5 days fewer than the fourth quarter of 2014.

The median sale price for detached properties in the Town of the Blue Mountains increased 5.9 per cent on a year-over-year basis to $423,500 in the fourth quarter of 2015.

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Wasaga Beach

Detached sales activity in Wasaga Beach jumped 54.4 per cent on a year-over-year basis to 88 units in the fourth quarter of 2015. Annual detached sales in the area posted a gain of 34.7 per cent in 2015, totalling 524 units.

The number of months of inventory was 3.1 at the end of the fourth quarter, down from 6.7 months a year earlier to the lowest level on record. 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.

Facing a tighter market homebuyers spent less time shopping around compared to a year earlier. The median number of days on market for detached sales was 47 in the fourth quarter of 2015, down 16 days from one year earlier.

The median sale price rose by 9.6 per cent on a year-over-year basis to a record $306,950 in the fourth quarter of 2015. This was the first time the median price had risen above $300,000.

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    CLAIRWOOD Real Estate Corporation, Brokerage

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    CLAIRWOOD REAL ESTATE CORPORATION, Brokerage
    306-10 Keith Ave.,
    Collingwood, ON
    L9Y 0W5
    Tel: 705-445-7085
    Toll Free: 1-877-445-7085

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