End of Year - Market Update

Happy New Year everyone.

I thought I would update you on our market for 2013. As mentioned before, we had a very slow spring and early summer, but very robust late summer and fall. Overall, waterfront property sales improved on volume by 4% compared to last year. Prices remained stable compared to 2012 (down 2%) BUT have improved 7% from 2011. I think the good late fall will continue to being a positive spring market this year. I don’t anticipate a quick market surge in prices, rather steady growth. For off water residential houses, the average price dropped by 5%, with a number of bank sales and the slow spring having an impact. Sales volume for residential houses was exactly the same as the year before. Vacant waterfront lots saw an increase in price by an average of 4% with same volume of sales for 2013. Vacant building lots, off water, again had a tough year, dropping in price on average by 17%, a trend we have seen for several years. As construction, planning, site prep, Hydro, registration etc costs continue to climb and existing housing stock declines in price – this vacant building lot market continues to be tough.

For your planning, we will see in January/February mostly Listings which were on at the end of last year (maybe price reductions). As we approach March, we will start to get New Listings with the biggest push coming near the Cottage Life Show (March 28th weekend). Again this year, Century 21 Granite Realty Group Ltd. will proudly be representing and promoting Haliburton properties at the Toronto Cottage Life Show with a full, double booth!

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