Overall, MLS® sales volume reported through the Georgian Triangle Association of REALTORS® (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, The Blue Mountains, Grey Highlands and Meaford) for the first three months of 2013 totalled $121.3 million, reflecting a 2.9% increase over sales volume of $117.9 million during the same period in 2012. A total of 407 properties changed hands in the first quarter of 2013 versus 403 in the first quarter of 2012, representing virtually no change year over year.
In the first quarter of 2013 (Q1) new listings totalling 1,562 properties represented a decrease of 4.1% versus Q1 2012. This decrease in new listing activity was reflected in a 4.9% increase in the number of expired listings during the first quarter. These results effectively reduced the available inventory from 12.1 months at the end of Q1 2012 to a current inventory level of 11.6 months based on the current rate of sales. The strongest month for listings year-to-date for 2013 was in March with 587 new listings reported which is consistent with the arrival of the spring selling season.
The Blue Mountains and Municipality of Meaford exhibited the strongest demand for residential homes in Q1 2013, with MLS® unit sales activity up 28.6% and 11.1% respectively versus Q1 2012. The Town of Wasaga Beach and the Town of Collingwood had increases of 5.6% and 1.3% respectively in Q1 2013 versus Q1 2012. As was the case throughout 2012, MLS® unit sales activity in Township of Clearview continues to remain much weaker than in most area municipalities, down 24.4% in Q1 2013, while sales activity in the Municipality of Grey Highlands reflected a 41.4% decrease in unit sales in Q1 2013 versus Q1 2012.
Sales in the mid to upper end of the market, $350,000 to $1-million, were up 12% in the first quarter. The first quarter also saw the first residential sale over $2-million since mid-2011.
The total MLS® sale-to- listing ratio for 2013 year-to-date continues to reflect that one in every four properties listed for sale actually sells. While market conditions are expected to remain stable in 2013, 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 a 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 2013, E&OE