Georgian Triangle Association of Realtors – First Quarter Report 2012

Area Activity Up in First Quarter

The first quarter real estate market in the Georgian Triangle showed robust sales performance and the momentum is expected to continue. The spring market was off to a quick start, especially with the warm weather and continued low mortgage rates, and the pace of sales has remained strong.

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) increased 16% in the number of units sold for the 1st quarter of 2012. Overall, 1st quarter sales volume in 2012 totaled $117.9 million reflecting a 6.4% increase over 1st quarter 2011 sales of $110.9 million.  Overall there was more choice for buyers as the number of new listings in Q1 2012 was up 9%. The number of expired listings in Q1 2012 was up 16% from 690 in 2011 to 802 in 2012. The average residential house price for the first quarter of 2012 in GTAR was $319,217, down 4.3% from the same period in 2011 ($333,688). This is due to the high number of sales in lower price categories.

The Town of Collingwood showed a very strong demand for residential homes in the 1st quarter of 2012 with MLS® sales activity (# of units sold) up 46% versus 1st quarter 2011.  The number of listings in Collingwood was up by 32% over 2011 in the first quarter of 2012 with the listing to sale ratio at 39% for the first quarter. The average sale price in Collingwood for the first three months of the year was $274,130, down from 2011 at $312,592. This is due to the higher number of sales in the lower price ranges.

Residential sales in The Blue Mountains (35 for 1st quarter 2012) were essentially unchanged from (33) 1st quarter 2011. New listings were up by 15% (132 in the first quarter of 2012 vs. 117 for the same period 2011). The average sale price for first quarter 2012 in Blue Mountains was $540,038, down from 2011 when the average price was $641,735. This is due to the fact that the first quarter 2011 saw an exceptional number of high end (over 1.5 mil) sales in The Blue Mountains.

Clearview Township had significant increases in MLS® sales activity in 1st quarter 2012, up 28% versus 1st quarter 2011.  At the same time, the number of listings were down by 4% over 2011. The average sale price for 1^st quarter 2012 was up significantly from $259,264 in 2011 to $361,379 in 2012.

The latest statistics released by the Georgian Triangle Association of REALTORS® (“GTAR”) show a continuation market confidence as March 2012 is the seventh consecutive month in which monthly are higher than those recorded for the same month the previous year.  Buyers are continuing to take advantage of low interest rates.

GTAR Highlights 

• Total units sold in March was up 11% (172 Mar 2012 / 155 Mar 2011) and up 16% ytd.
• Total Sales Volume for all real estate sales was down 3% ($47,193,875 Mar 2012 / $48,503,192 Mar 2011) and ytd up 6% over the same period in 2011. The decline in this month’s dollar volume sales reflects the fact that the surge in activity was concentrated in the mid price range of properties, particularly those priced between $300-$400,000 and $500-600,000.
• The total number of unit sales was up 34% over February and sales dollar volume was up 22%% from 38,710,901 in February to $47,193,875 in March.
• There were a total of 2109 active listings in the Georgian Triangle Association of Realtor MLS at the end of March, a 6% increase from 1986 listings at the end of March 2011.
• The number of new listings for March 2012 was up by 7.3% (618 Mar 2012 / 576 Mar 2011) and 9% ytd.
• Total # of expired listings was up 30% (200 Mar 2012 / 154 Mar 2011) and 16% ytd.

Average prices for the Georgian Triangle have dropped year over year by 4% with the average sales price year to date falling to $319,217 compared to the average sales price recorded last year at this time of $333,688. This is due to the softening of the high end market sales.

Residential Sales

• The total sales volume for all residential real estate was up 5.8% ($40,477,080 Mar 2012 / $38,263,692 Mar 2011).
• Residential unit sales were up by 42%, a total of 151 residential sales in March 2012 compared to 106 in 2011 and up 47% ytd.
• On a year over year monthly basis average sales price for single family residential properties also posted a modest decline coming in at $302,818 compared to
• $309,283, down 2% over one year.

Collingwood

• The total number of single family residential sales was up by 15% from 26 in 2011 to 30 in 2012 and ytd up 46%.
• The number of listings was down by 14.5 from 62 in 2011 to 53 in 2012. This is due to the fact that sellers listed earlier this year as the February listings were up 49%. Listings are in fact up 32% y.t.d.
• The Sales to Listing Ratio was 47% in March 2012 and 39% ytd.
• Average sale price for single family home sold during March 2012 was $237,705 down from $314,354 in 2011.

The Blue Mountains

• The total number of single family residential sales was up 50% from 8 in March 2011 to 12 in March 2012 and ytd up 3%.
• The number of listings was up 39% from 28 in March 2011 to 39 in March 2012 and up 14.7% ytd.
• The Sales to Listing Ratio was 29% in March 2012 and26% ytd.
• Average sale price for single family home sold during March 2012 was $534,950 down from $749,656 in 2011.

Clearview

• The total number of single family residential sales was up 29% from 14 in 2011 to 18 in 2012 and up 24% ytd.
• The total number of listings down 8% from 39 in 2011 to 36 in 2012 and 113 listings ytd for both 2011 and 1012.
• The Sales to Listing Ratio was 45% in March 2012 and 36% ytd.
• Average sale price for single family home sold during March 2012 was $299,250 up from $270,693 in 2011.

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The total sales volume was down 3% over February 2011 from $39,942,812 Feb 2011 to $38,710,901 Feb 2012, however still up on year to date by 13% . The decline for February 2012 reflects the fact that in February 2011 there was 1 property sold in the 1.5+ million dollar range and 1 sold in the 3+ million dollar price range. The largest increase in dollar amount sales for February 2012 was in the $150,000 to $300,000 and $400,00 to $500.000 price ranges.

The number of new listings for February increased by 17% over last February with 502 new listings compared to 430 last year at this time.

The average residential sale price in the Georgian Triangle decreased by 6% measured on a year to date basis coming in at $331,980 compared to $352,959 last year at this time. The monthly average single family residential sales price are down 20% from last February’s $401,595 to this year’s $321,631 although this figure reflects the high increase in the lower priced properties sold during February 2012 and the higher price point sales of February 2011.

Collingwood showed the strongest growth in February where single family residential sales were up 77% from 13 in 2011 to 23 in 2012 and ytd up73%.

Blue Mountain  single family residential sales are down 29% from 17 in Feb 2011 to 12 in Feb 2012 and ytd down 11.53%.

Clearivew single family residential sales were up 30% from 10 in 2011 to 13 in 2012 and up 15.8% ytd.

Market Snapshot February 2012

• Total Sales Volume for all real estate sales was down 3% ($38,710,901 Feb 2012 / $39,942,812 Feb 2011) and ytd up 13% over the same period in 2011.
• Total units sold in February was up 10%  ( 128 Feb 2012 / 116 Feb 2011) and 21% ytd.
• The total number of unit sales was up 23% over January and sales dollar volume was up 69% from22,840,515 in January to 38,710,901 in February.
• Total # of Listings in the Georgian Triangle Association of Realtor MLS was up by 17% in Februry 2012,  (502 Feb 2012 / 430 Feb 2011) and 10% ytd.
• Total # of expired listings was up 28% ( 1010 Feb 2012 / 919 Feb 2011)  and 13% ytd.
• The total sales volume for all residential real estate was up 1.4% ($34,059,901 Feb 2012 / $34,539,912 Feb 2011).
• Residential unit sales were up by 40%, a total of 119 residential sales in February 2012 compared to85 in 2011.

Collingwood: February 2012

• The total number of single family residential sales are up by 77% from 13 in 2011 to 23 in 2012 and ytd up 73%.
• The number of listings was up to by 67% from 49 in 2011 to 67 in 2012 and up 45.4% ytd.
• Average sale price was $268,270 in 2012 down from $334,838 in 2011.

Blue Mountain: February 2012

• The total number of single family residential sales are down 29% from 17 in Feb 2011 to 12 in Feb 2012 and ytd down 11.53%.
  • The number of listings was up 50% from 30 in Feb 2011 to 45 in Feb 2012 and up 4.5% ytd.

Clearview: February 2012

• The total number of single family residential sales are up 30% from 10 in 2011 to 13 in 2012 and up 15.8% ytd.
• The total number of listings up 21.2% from 33 in 2011 to 40 in 2012 and down 4% ytd.

 Total Real  Estate Sales Activity for the area:

• Total # of unit sales were up 36.8% from 76 in 2011 to 104 in January 2012.
• Total # of Listings in the Georgian Triangle Association of Realtor MLS were up by 4.1% in January 2012, from 489 in 2011 to 509 in 2012.
• Total # of expired listings were up 7.9% from 406 in 2011 to 438 in 2012.
• Total sales volume for January 2012 was 32,099,402, up 43% from 22,452,605.

Residential Real Estate Sales Activity

• The total sales volume for all residential real estate was up by 52% from 17,838,005 in 2011 to 27,257,902 in January 2012.
• Residential unit sales were up by 30%, a total of 87 residential sales 2012 compared to 67 in 2011.
• Average residential price was up 25.6% from $285,447 (2011) to 358,643 (2012).

Collingwood: January 2012

• The total number of single family residential sales were up by 73% from 11 in 2011 to 19 in 2012. This is the highest number of unit sales since January 2006 when 27 units sold.
• The number of listings were up to by 61% from 41 in January 2011 to 66 in 2012.
• Average sale price was up 4.7%  - $316,416 in 2012 up from $301,429 in 2011.
• The 12 month average sale price was up 4.2% from $278,616 (2011) to $290,398 (2012).

Blue Mountains January 2012

• The total number of single family residential  sales are up by 57% from 7 units sold in 2011 to 11 in 2012.
• The number of listings were down to by 26% from 58 new listings in January 2011 to 43 in 2012.
• Average sale price was up 16% – $551,591 in 2012 up from $461,458in 2011.
• The 12 month average sale price was up 7.6% from $517,159 (2011) to $556,689 (2012).

Clearview January 2012

• The total number of single family residential  sales are the same at 8 for 2011 and 2012.
• The number of listings were down to by 29% from 41 in January 2011 to 29 in 2012.
• Average sale price was up 59% for the month, $414,781 in 2012 from $168,250 in 2011.
• The 12 month average sale price was down 11.20% from $305,822 (2011) to $344,395 (2012)