This report summarizes the monthly statistics for the Western Region of the Southern Georgian Bay Association of REALTORS® (SGBAR). The SGBAR trading area also includes the Eastern Region of Southern Georgian Bay due to an amalgamation of the Midland Real Estate Board and the Georgian Triangle Real Estate Board in 2014. However, this report is restricted to the Western Region, formerly known as the Georgian Triangle Association of REALTORS®.

 

Collingwood Real Estate Market Report  

While sales were up 21% on a year-over-year basis, the number of new listings was down 7% over the same period, continuing the ongoing shortage of supply.   August 2016 reported 312 new listings vs 347 in August 2015 marking a 10% decrease. Year To Date (YTD) listings were down 7% with 3025 listings in August 2016 vs 3240 in August 2015.   August 2016 saw 304 sales, marking a 45% increase over the 210 sales reported in August 2015. YTD, sales were up 21%, with 1946 sales reported in August 2016 vs 1602 sales in August 2015. The total sales dollar volume for the month of August 2016 was up 58% over August 2015. The total sales dollar volume YTD was up 32% over the year previous.

 

  August Real Estate Market Update

109 STUART CRT, THE BLUE MOUNTAINS – $480,000

 

 

  There was 4.1 months of inventory at the end of August 2016, down from 7.7 recorded at the end of August 2015. 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. Six months of supply is considered the benchmark for a balanced market. Less than six months of supply favors the Sellers because there are fewer choices for the Buyer. More than six months favors the Buyer and leads to lower prices.

 

August real estate market update

136 GRAND CYPRESS LANE, THE BLUE MOUNTAINS –  $649,900

 

 

  August 2016 saw the Monthly Sales to Listing Ratio reaching an incredible 97.44%. It is really quite incredible to note that of the 312 new listings in August, there were 304 sales. The total Sales to Listing Ratio is 64.33% for the year this far. The Sales to Listing Ratio is the ratio between the number of homes sold and the number of new listings entering the market. The higher ratio indicates a Seller’s Market while a lower ratio indicates a Buyer’s Market.   Residential single family homes sales activity did continue to vary throughout the Western Region. YTD, Clearview saw a 43.3% increase in the number of sales reported August 2016 over August 2015. The 12 month average price also increased 29.2% YTD, $464,436 over $359,348. Collingwood activity was up 14.6% YTD with 275 sales in August 2016 vs 240 August 2015. The Blue Mountains was up 7.5% YTD with 143 sales in August 2016 over 133 sales in August 2015. The average price increased 1.1% to $610,440 August 2016.   With some of the tightest market conditions ever seen in the region, Buyers and Sellers will be watching closely to see how the ongoing unprecedented levels of activity combined with such limited inventory will a ect buying and selling in the months to come.  

 

Prepared by Diana Lea Berdini, Broker/Office Manager Collingwood/Owen Sound Chestnut Park Real Estate Limited, Brokerage

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