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November 2014 Collingwood & Southern Georgian Bay Real Estate Market Report

Posted by on December 2, 2014
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When compared both month over month and year over year, the month of November proved to be a statistically healthy real estate market across all parts of the Western Region of the Southern Georgian Bay area (Clearview, Collingwood, Grey Highlands, Meaford, The Blue Mountains and Wasaga Beach). This is in keeping with the statistical reports for the major real estate markets across Ontario and Canada.


With flurries in the air our REALTORS® within the office have experienced strong demand for real estate and in particular recreational properties across the region in anticipation by many of another solid winter season to be enjoyed by winter enthusiasts.


Specifically, when reviewing the Performance Record prepared by the Southern Georgian Bay Association of REALTORS® (SGBAR), for the month of November listings are down, sales are up and total sales dollars year to date are ahead of last year at the end of the eleventh month of the calendar year. Generally speaking, this should ensure a strong statistical finish to the calendar year for 2014. At the end of November, Total Volume Sales (TVS) Year to Date (YTD) for the first eleven months of 2014 were $61,930,565.00 or over 9% ahead of where they were for the same time period for 2013. Specifically, at the end of the month the TVS equalled $666,468,589.00 versus $604,538,024.00 for 2013. Monthly Volume Sales (MVS) for November 2014 were reported as $49,078,895.00 up $1,420,615.00 or 3% from the $47,658,280.00 total for November 2013.


Total Unit Sales (TUS) Year to Date (YTD) continue to track upward across all regions of the Western Region with the exception of one geographical area. For the first eleven months of 2014 Wasaga Beach led the way with a total of 439 total unit sales YTD up from 422 in 2013, Collingwood followed at 333 TUS up from 317 for 2013, The Blue Mountains total was 172 versus 161 for 2013, Clearview’s total was 155 up from 147 for 2013 and Meaford with the highest percentage increase year over year of the six regions at 9.6% had a total of 126 TUS versus 115 for 2013. Grey Highlands is the only region that is tracking behind 2013’s total with 95 TUS for 2014 versus 100 for 2013. However, of the six regions Grey Highlands has the highest twelve month average price increase at 27.9%.


Sales for the entire Western Region for November totalled 163 units, up from 149 units, or more than 8.5% higher than recorded in November 2013. In contrast new listings for the month were down over 20% with only 337 properties coming onto the market compared to 424 for the same period last year. Indeed, November marks the fifth consecutive month in which fewer new listings came onto the market as compared to the same month the year previous. When combined with seven months of year over year increases in units sold in the region a significant tightening in the market is inevitable and is reflected in a sales to listing ratio of 48.37%, its second highest percentage over the past 23 months. Equally significant this percentage (48.37%) is qualitatively higher than that recorded in November 2013 (34.14%). It is noteworthy that the sales to listing ratio has gone up consistently every month from the start of the year, calculated at 16.94% in January, to a figure of 36.53% YTD in November.


As listings decline and sales increase this generally translates into higher monthly average sales increases and year-to-date across the region this is exactly what has happened. As noted above Grey Highlands once again led the way with a 27.9% increase for the twelve month average for a residential property. The other districts that make up the Western Region of our trading area followed suit with percentage increases across the board including Meaford at 11.4%, Collingwood at 10.4%, Clearview at 7.7%, Wasaga Beach at 3.5% and The Blue Mountains at 0.4%.


In the New Year, in an effort to provide broader information about our marketplace and various activities taking place across the various regions that make up our marketplace, we will be making further use of Chestnut Park’s online presence including our Blog and various social media outlets. Within the Brokerage we are pleased to represent several large developments including Far Hills in Thornbury, the third phase of Nipissing Ridge adjacent to both Alpine and Craigleith ski clubs, Blue Horizons adjacent to the Village at Blue and The Villas of Upper Wasaga Beach. These are exciting opportunities unique in location, price point and architectural styles each in various stages of development. Therefore, in the New Year look for articles expanding upon each of these communities.


Looking ahead to 2015 our colleagues within the office are confident that the steady, balanced market within the Southern Georgian Bay area will continue expanding upon what has been a positive year to date for 2014.


Prepared by: Keith Hull, Broker and Office Manager, Collingwood/Southern Georgian Bay & Richard Stewart, Vice-President & Legal Counsel at Chestnut Park Real Estate Limited, Brokerage