2019 Market Snapshot – Second Quarter
REAL ESTATE MARKET SNAPSHOT – Q2 2019 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. Specifics for those are below. The entire Western District is comprised of the aforementioned + Meaford and Wasaga Beach, and its stats at the end of June show that in the first half of this year there have been 1866 new residential listings from which 929 have sold, an increase of 1.2% over this time last year, and a sales to list ratio of 49.8%, quite the balanced market! On average it is taking longer to sell a property (48 days on market “DOM” vs 39 DOM in Q2 2018) and we have more offerings. Currently there are 4.2 months of inventory compared to this time last year of 3.3 months, but the average sale price is up 10.4%.
Prior to specifics for our local market, let’s take a look at what is happening in the broader Canadian market and the GTA. The Canadian Real Estate Association (CREA) has predicted almost flat growth in 2019. The average prices are forecast to fall in 2019 in British Columbia, Alberta, Saskatchewan, and rise in Ontario, Quebec and the Maritimes. Then CREA’s forecast is for continued price improvements into 2020.
Closer to home, the Toronto Real Estate Board (TREB) states Toronto’s housing market could be shifting to favour Sellers as sales growth outpaces listings growth. Condos are experiencing the largest price increases but single family homes continue to lead the way in volume.
The latest enhancement to Realtors’ abilities to reach out for Sellers and to Buyers includes adding The Globe and Mail, with more than 7-million unique monthly readers, to the REALTOR.ca data distribution advertising network. Listings will be displayed alongside real estate and personal finance articles.
HIGHS, LOWS & SPECIFICS
- The high sale was a stone bungalow in ‘The Forest’ subdivision for $1,700,000.
- The low sale was a 1 bdrm, 1 bath life-lease condo in Sunset Village for $225,000.
- Condos: Q2 2019 (vs Q1 2019): 102 listings avg/mth, 24 sales avg/mth (72 listings, 40 sold); avg DOM 34 (62); avg sale to list price – 98.4% (96.9%); avg sale price $465,783 ($444,575) – up approx. 4.5%.
- Single Family Homes: Q2 2019 (vs Q1 2019): 188 listings avg/mth, 41 sales avg/mth (135 listings, 67 sold); avg DOM 39 (44); avg sale to list price – 98.8% (98); avg sale price $582,379 ($563,027) – up approx. 3.5%.
THE BLUE MOUNTAINS
- The high sale was a stunning waterfront in Craigleith for $3,600,000.
- The low sales were all under $180,000, 3 condo-hotel units in the Village at Blue.
- Condos: Q2 2019 (vs Q1 2019): 62 listings avg/mth, 14 sales avg/mth (86 listings, 28 sold); avg DOM 76 (68); avg sale to list price – 98.3% (96.3%); avg sale price $437,180 ($341,532) – up about 26%.
- Single Family Homes: Q2 2019 (vs Q1 2019): 158 listings avg/mth, 17 sales avg/mth (80 listings, 49 sold); avg DOM 63 (44); avg sale to list price – 96.6% (97.7%); avg sale price $884,556 ($948,420) – down about 7%.
CLEARVIEW (Nottawa and Nottawasaga districts)
- The high sale was a country home on 60 acres southwest of Creemore for $1,800,000.
- The low sale was a 950 SF renovated house near Singhampton for $230,000.
- Single Family Homes: Q2 2019 (vs Q1 2019): 92 listings avg/mth, 15 sales avg/mth (62 listings, 31 sold); avg DOM 71 (87); avg sale to list price – 97.7% (97.7%); avg sale price $567,542 ($645,955) – down approx. 14%.
- Farmer’s Market in full swing – every Saturday morning – corner of Pine Street and Second in Collingwood
- Collingwood Elvis Festival – July 26th to July 28th
- Discover Collingwood’s retail, dining & arts scene as many downtown businesses invite you to an evening of shopping, dining and entertainment – Thursday & Friday evenings during July & August. Collingwood’s downtown comes alive from 5 – 7 p.m. You will find welcoming patios, sidewalk sales & street entertainers
- 1858 Caesar Bar is moving this summer across the street to 158 Hurontario
- Fig and Feta Greek Eatery is moving this summer to 65 Hurontario
- The Grey – NOW OPEN! Waterfront restaurantand patio in the heart of Thornbury.
- Village at Blue – entertainment and/or festivals featured every week – check out their website – http://www.bluemountainvillage.ca/events