2018 Year in Review – Second Quarter
2nd QUARTER IN REVIEW
We continue to focus where we specialize – residential single-family homes and condos in the WESTERN DISTRICT of Southern Georgian Bay, in particular The Blue Mountains, Collingwood and the areas of Clearview near Collingwood and Blue. In Collingwood/Blue Mtns, the greatest amount of listings and choice for buyers in 2017 was May through October. With some notable exceptions, this is an historic trend. Sellers will want their properties on the market during these months as buyers naturally prefer to shop when they have the most choice.
The Q2 2018 Royal LePage House Price Survey and Market Forecast Survey was released to media July 10th. Highlights pertinent to southern Ontario are:
- Home price appreciation slowed across Canada in the second quarter of 2018, marked primarily by softness in the Greater Toronto Area (GTA). The price of a home in Canada increased 2.0 per cent year-over-year to $613,968 this quarter.
- Looking ahead, Royal LePage is projecting an uptick in home price appreciation in the third quarter of 2018 with the aggregate price of a home in Canada set to increase 1.9 per cent compared to the second quarter.
- GTA expected to post third quarter price gains after price declines in the second quarter.
- Southern Ontario cities outside the GTA post highest home price increases in the province as buyers migrate to affordable communities (and this is SO true for our area, see below!)
Highs, Lows and Specifics
- The high sale was a 4,800 SF home with 187’ waterfrontage for $2,150,000.
- The low sale was an east-side studio condo for $156,900.
- Condos: Q2 2018 (vs Q1 2018): 66 new listings, 67 sold (141 listings, 36 sold); avg DOM 27 (28); avg sale to list price 99% (98.7%); avg sale price $424,515 ($355,893) – up approx. 19%.
- Single Family Homes: Q2 2018 (vs Q1 2018): 61 new listings, 86 sold (195 listings, 50 sold); avg DOM 27 (40); avg sale to list price 98.3% (98.3%); avg sale price $580,012 ($502,896) – up approx. 15%
THE BLUE MOUNTAINS
- The high sale was a 42 acre exec home with golf course and Bay views for $3M.
- The low sale was a 1 bdrm condo in the Grand Georgian for $165,000.
- Condos: Q2 2018 (vs Q1 2018): 39 new listings, 36 sold (176 listings, 38 sold); avg DOM 54 (60); avg sale to list price 97.8% (98.2%); avg sale price $357,072 ($338,171) – up approx. 6%.
- Single Family Homes: Q2 2018 (vs Q1 2018): 66 new listings, 45 sold (347 listings, 45 sold); avg DOM 43 (57); avg sale to list price 98% (97.6%); avg sale price $888,245 ($869,025) – up approx. 2%.
- The high sale was a 2 acre exec home just northeast of Nottawa for $1,485,000.
- The low sale was a 2 acre fixer-upper east of Stayner for $215,000.
- Single Family Homes: Q2 2018 (vs Q1 2018): 45 new listings, 36 sold (391 listings, 87 sold); avg DOM 65 (55); avg sale to list price 98.1% (97.9%); avg sale price $555,042 ($495,263) – up approx. 12%.
- As of July 11, 2018 – Elaine Dickinson’s Fashions moved to 163 Hurontario Street beside the Gayety Theatre in the previous location of The Blue Mountain Foundation of the Arts
- A new Luxury Boutique Hotel will be opening soon at 64 Third Street at the corner of Pine Street called The VanderMarck featuring studio, one and two bedroom suites
- Occasions Food Hall is now open at 49 Huron Street beside the Courthouse next to Sobey’s – they offer fine food selections for entertaining at home
- Prime Seven Nine – the new Premium Dining Experience in Downtown Collingwood is located at 79 Hurontario in the Heritage Building on the corner of Second Street featuring lunch, dinner and weekend brunch