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Summer 2012
Escarpment Magaz ine
With the first half of the 2012market almost over, prospects for the remain-
der of the year look promising. All signs point to theGeorgian Triangle real
estatemarket being on firmand stable foundations particularlywith respect
to affordability. However, sellers should heed these signals and not over-
shoot the market as to price expectations.
Expired listings are up 13.4% for a total of 1,235. The breakdown in sales
is quite significant.Of the811 sales YTDonly118werebetween$400,000
and $1,000,000. There were 12 sales between $1.010 million and
$1.375million andone sale above$1.5million. Last year therewere three
sales between$1,465,000and$3,250,000 in the first quarter. There are
currently 104 properties listed over $1 million, 28 over $2 million and 13
over $3 million. In the commercial market there are 14 listings ranging in
pricing from $1.490 million to the Terrasan property for $13.5 million.
Of the 146 condominium sales, 90 were in Collingwood, 41 in The Blue
Mountains with 69 sales over $200,000 and 41 over $250,000. One of
the weakest price points is between $700,000 and $1 million with 12 sales
in 2012, YTD, and 21 in 2011. TBM continues to have the highest average
price at $525,814 versus $282,734 in Collingwood, $310,156 in
Clearview, $272, 4000 in Wasaga Beach and $271,588 in Meaford.
Residential activity from area to area has varied widely. Collingwood is up
23%, Grey Highlands up 51%Meaford up 48.5 %, TBMup 11%, Wasaga
Beach up 18% and Mulmur down 68%. As of the end of May there was
10.9months of inventory on a seasonally adjusted basis, up from9.9months
at the end of April. The number of months of inventory is the number of months
it would take to sell current inventories at the current rate of sales activity.
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