For those of you who are following the local real estate market you may be interested in the article below published by the Georgian Triangle Association of Realtors. If you have any questions please feel free to contact me.
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Area Real Estate Activity Up in First Quarter
MLS® sales activity reported through the Georgian Triangle Association of REALTORS® (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, Blue Mountains, Grey Highlands and Meaford) posted a healthy gain of 16% for the 1st quarter of 2012 with 403 properties changing hands in the first three months of the year versus 347 in the 1st quarter of 2011. Overall, 1st quarter sales volume in 2012 totalled $117.9 million reflecting a 6.4% increase over 1st quarter 2011 sales of $110.9 million.
Sales activity in several price ranges showed a marked improvement in the 1st quarter of 2012 compared to the same period last year. Unit sales below $250,000 totalled 209 in the 1st quarter of 2012 marking a 12.3% increase over 1st quarter 2011 results; in the $250,000 - $499,999 price range, 1st quarter sales of 154 properties represented a significant 30.5% increase over the 1st quarter of 2011. In the $500,000 - $999,999 price range, 1st quarter sales of 31 properties reflected a slightly weaker demand in this price range for 2012, compared to the 33 properties sold in the 1st quarter of 2011. Lastly, sales activity in the $1 million plus price range during the 1st quarter of 2012 totalled 9 properties, compared to the 10 homes sold over $1 million in the 1st quarter of 2011.
The number of new MLS® listings during the 1st quarter of 2012 totalled 1,628 units, up 8.9% from the 1st quarter of 2011. The number of expired listings year-to-date 2012 totalled 802 properties, up 16.2% over the same period last year. First quarter's statistics reflect the fact that 1 in every 4 houses listed for sale actually sell.
The month of March was the strongest listings month of the 1st quarter, with 618 new MLS® listings and 172 sales.
The Municipality of Grey Highlands and the Town of Collingwood showed the strongest demand for residential homes in the 1st quarter of 2012 with MLS® sales activity up 61.1% and 45.3% respectively versus 1st quarter 2011. Clearview Township and the Town of Wasaga Beach had significant increases in MLS® sales activity in 1st quarter 2012, up 28.1% and 22% respectively versus 1st quarter 2011. Residential sales in The Blue Mountains for 1st quarter 2012 were essentially unchanged from 1st quarter 2011, whereas MLS® residential sales activity in the Municipality of Meaford was down 5.3% in the 1st quarter of 2012 versus 1st quarter 2011.
While market conditions are expected to remain stable in the 2nd quarter of 2012, I would invite you to talk to me about your particular area trends.