Area Real Estate Activity Up in Fourth 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 4th quarter of 2011 with 457 properties changing hands in the final three months of the year versus 393 in the 4th quarter of 2010. Overall, 4th quarter sales volume in 2011 totalled $129.5 million reflecting a 13% increase over 4th quarter 2010 sales of $115.2 million
Unlike the 4th quarter of 2010 when sales activity softened largely due to the impact of stricter lending rules and confusion surrounding the implementation of Ontario’s Harmonized Sales Tax on July 1, 2010, sales activity in virtually all price ranges showed a marked improvement in the 4th quarter of 2011 compared to the same period last year. Unit sales below $250,000 totalled 240 in the 4th quarter of 2011 marking a 15% increase over 4th quarter 2010 results; in the $250,000 - $499,999 price range, 4th quarter sales of 177 properties represented a 21% increase over the 4th quarter of 2010. In the $500,000 - $999,999 price range, 4th quarter sales of 35 properties reflected a slightly stronger demand in this price range for 2011 where 33 properties sold in the 4th quarter of 2010. Lastly, sales activity in the $1 million plus price range during the 4th quarter of 2011 totalled 5 properties which is consistent with the number of homes sold over $1 million in the 4th quarter of 2010.
The number of new MLS® listings during the 4th quarter of 2011 totalled 1,225 units, up 3% from the 4th quarter of 2010. As of the end of December, new listings for the year totalled 6,477 units, a 3% increase from the number of new listings that came on the market in 2010. The number of expired listings for 2011 totalled 3,218 properties which is essentially unchanged from 2010. These statistics reflect the fact that 1 in every 3 houses listed for sale actually sell.
The year ended on a positive note with December sales of 113 units reflecting a 28% increase over the 88 properties sold in December 2010. Monthly sales volume in December 2011 was $33.4 million versus $31.4 in December of last year, an increase of 6%. Listing activity jumped sharply in December 2011 with a total of 329 new listings posted to the local MLS® system during the month, compared to 270 new listings in December last year, an increase of 22%.
Year-to-date MLS® sales for 2011 totalled 1,869 units versus 1,906 in 2010, representing a 2% decrease in number of units sold year-over-year. Conversely, 2011 dollar volume of $548.2 million is up marginally over the $544.8 million in MLS® sales reported in 2010. Sales in the under $250,000 price range for 2011 of 964 are down 5% compared to 2010; while in the $250,000-$499,999 range, sales increased 2% with 728 sales reported for 2011 versus 2010. In the $500,000-$999,999 range, 2011 sales of 148 properties represented a 3% decrease in sales from the 153 units sold in 2010. Annual sales in the $1 million plus price range remained strong throughout the year with 29 sales in 2011 versus 28 in 2010.
The Town of Collingwood and Wasaga Beach showed the strongest demand for residential homes in 2011 with MLS® sales activity up 8% in both of these municipalities versus 2010. Residential sales in the Blue Mountains for 2011 were essentially unchanged from 2010 whereas MLS® residential sales activity in Grey Highlands and the Municipality of Meaford during 2011 were down 21% and 25% respectively.
While market conditions are expected to remain stable in the 1st quarter of 2012, consumers are encouraged to consult a local REALTOR® to obtain a qualified evaluation of their home or to obtain other in-depth market information before making any crucial buying or selling decisions.
For more in depth analysis of a specific municipality, contact your Local REALTOR® of the Georgian Triangle Association of REALTORS®.
Information provided by the Georgian Triangle Association of REALTORS®, copyright 2011. E&OE

Carol Ireland

Carol Ireland

Sales Representative
CENTURY 21 Millennium Inc., Brokerage*
Contact Me

Blog Archives

Tags