2016 Market Snapshot – Second Quarter
For residential, single family homes, the WESTERN DISTRICT of Southern Georgian Bay continues the 2015 trend of a Sellers’ market with an average of over 50% of listings selling. This Quarter showed 8% less listings than Q 1 ’15 yet 14% more sales and dollar volume is up 21%. The average price for a home shows an over 3% price increase, $395K compared to $383K this Q last year. On one hand, the majority of sales took place in the $200,000 to $350,000 price range yet it was the $1.5M+ category that doubled its sales numbers.
Our focus will be on single family homes and condos in the 3 trading areas in which we have the most experience: Blue Mountains, Collingwood, and the areas of Clearview nearest to Collingwood & Blue. There were 317 listings of which 201 sold – a 64% sale to list ratio (compare to 54% for Q1 ’15), and the average property price rose 14% from $394,320 in Q1 ’15 to the current $449,442. The average amount of time between listing and selling was 69 days on market (DOM).
- The high sale of the Quarter was a Princeton Shores waterfront home at $1,290,000. 2nd in line was a custom home at Sunset Point for $1,279,000.
- The low sales were 2 small condos in Cranberry at $116k & $117k, and 7 other condos from $134k – $150k.
- The average price for a resale residence in Collingwood was $348,204, up over 10% from $316,134 in Q1 ’15.
- Q1 2016 (vs Q1 2015): Condos – 73 listed, 54 sold (83 listed, 48 sold); avg DOM 60 (133); avg sale to list price – 97% (97%)
- Single Family Homes – 107 listed, 61 sold (122 listed, 63 sold); avg DOM 42 (84); avg sale to list price – 97% (96%)
The Blue Mountains:
- The high sale of the Quarter was a waterfront home off Bayview Park in Thornbury at $2.5M.
- The low sale was a 737 SF condo at Blue Mountain for $125,000.
- Q1 2016 (vs Q1 2015): Condos – 63 listed, 33 sold (70 listed, 29 sold); avg DOM 88 (100); avg sale to list price – 96% (98%)
- Single Family Homes – 87 listed, 38 sold (97 listed, 44 sold); avg DOM 116 (124); avg sale to list price – 95% (94%)
- The average price for a resale residence in Blue Mountains was $566,425, up over 11% from $508,400 Q1 ’15.
Clearview (Nottawa & Nottawasaga districts only):
- The high sale of the Quarter was a 3500 SF view property on 10 acres near the Osler(Bluff) ski club and (Brook) golf club for $2,390,000.
- The low sale was a small bungalow in Nottawa for $256,500.
- The average price for a resale residence in Clearview’s NO & NT was $583,213 up 35% from $433,688 Q1 ’15.
- Q1 2016 (vs Q1 2015): Single Family Homes – 39 listed, 15 sold (34 listed, 9 sold); avg DOM 64 (148); avg sale to list price – 94% (96%)
Pls note: All data has been gleaned from statistics provided by CREA’s MLS system via the S. Georgian Bay Assoc. of REALTORS® and is believed to be accurate.
For a detailed analysis of the property you wish to sell or buy, please contact us at your convenience. We are here to help and to save you time.