Area Real Estate Sales: Fourth Quarter Down; Year Up
Area real estate sales reported through the MLS® system of the Georgian Triangle Real Estate Board (GTREB)
slowed in the fourth quarter of 2010 vs the same quarter last year. The Bank of Canada again maintained its
benchmark overnight rate during this quarter at 1.00% reflecting the Bank's view that the economic recovery in
Canada is proceeding at a moderate pace, with economic activity in the second half of 2010 appearing slightly
weaker than the Bank has projected in it's October Monetary Policy Report.
Quarterly, MLS® unit sales activity dropped 15.3%, with 394 properties selling in Q4 2010 vs 465 in Q4 2009; the
resulting sales volume of $115,241,659 (Q4 2010) represents a 9.2% decrease over sales of $126,876,080 for Q4
2009. As reflected in the chart above, all price categories in Q4 2010 showed a marked decrease from Q4 2009,
with the exception being in the $1,000,000 + range where 5 houses sold in Q4 2010 vs 3 sales in Q4 2009 which
represents a 66.7% increase. Number of sales in the $0 - $249,999 range decreased a significant 19.8%, and the
$250,000 - $499,999 range decreased 11.5% (Q4 2010 vs. Q4 2009). New MLS® listings totalled 1,189 in Q4
2010, representing a nominal increase of 1.3% over the 1,174 properties listed in Q4 2009.
Annually, 2010 MLS® unit sales of GTREB are up 2.7%, wherein 1,906 properties have changed hands,
surpassing the 1,855 properties sold last year. Annual MLS® 2010 sales volume of $544,833,365 represents a
solid 12.5% increase over 2009 sales of $484,385,974 driven by significantly higher sales activity in the upper
price ranges of the market. As noted in the chart above, most price categories have seen an increase in number of
unit sales 2010 vs. 2009. The exception is the under $250,000 price range which saw 1,014 sales in 2010 vs. 1,117
in 2009, a decrease of 9.2%. Sales in the remaining price ranges for the year are as follows: $250,000 to $499,999
saw 711 sales vs. 613, or 16% increase; $500,000 to $999,999: had 153 vs. 110 sales or a 39% increase and in
the over $1 Million category: 28 sales vs. 15 sales, or an increase of 86.7%.
The above statistics only reflect market activity as reported by the MLS® system of the Georgian Triangle Real
Estate Board and do not include additional sales by private sellers or new home sales made by developers and
The current Georgian Triangle MLS® sales-to-listing ratio reflects market conditions where approximately one in
three houses listed for sale sell. The balanced market conditions of early 2010 tipped slightly in favour of buyers
during the latter half of the year. Now is the time to enlist the help of your local REALTOR® for professional advice
on pricing and marketing your home to best attract buyers. For buyers, your local REALTOR® can provide
comparable sales data to help you make informed decisions when offering on your dream home, your first home, a
commercial property and everything in between.
For more in depth analysis of a specific municipality or area, please contact me directly.
Information provided by the Georgian Triangle Real Estate Board, copyright 2011.