Serving Collingwood, Blue Mountains and surrounding areas since 1994
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Sheila Shepherd

Sales Representative
705-441-6085
sheilashepherd
@rogers.com

Lorraine McDonald

Sales Representative
705-444-4216
lorrainemcdonald
@rogers.com

Power of Three

2016 Market Snapshot – Third Quarter

Q3 Report

For residential single family homes and condos, the WESTERN DISTRICT of Southern Georgian Bay continues the over one year trend of a Sellers’ market with record low inventory down 8.8% from Q3 2015. 5 years ago, we needed over 12 months to sell all listed inventory, last August it was 5.3 months, now it would take only 2 months. Values are up – Aug ’16 surpassed $148M for residential transactions – and sales are brisk – 57% to 80% of listings sold depending on area.

The average price for a home is currently $365,473, up 8% from a year ago. The majority of sales took place in the $200,000 to $350,000 price range but the $350K-$1M category went up by 265 sales. The luxury market ($1M+) went from 36 to 53 sales. Market value remains a moving target, but if Realtors & Buyers deem a property to be even close to realistically priced, the properties are selling, and often in competing offers.

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. YTD there were 902 listings of which 626 sold – a 69.5% sale to list ratio (was 57% for YTD Q3 ’15), and the average property price is currently $503,385 or about 72% higher than the Western District’s average. The average amount of time between listing and selling was 78 days on market (DOM), compare to 94 DOM in 2015.

HIGHS, LOWS & SPECIFICS

Collingwood:

  • The high sale of Q3 was a waterfront home in Princeton Shores for $2,330,000. Worth noting is that the other two high sales were also waterfront homes and both on Georgian Manor Drive, east Collingwood.
  • The low sale was an east side small home near the water at $73,000.
  • Q3 (vs Q2): Condos – 18 listed, 20 sold (30 listed, 30 sold); avg DOM 40 (37); avg sale to list price – 99% (98.6%)
  • Single Family Homes – 35 listed, 113 sold, (55 listed, 36 sold); avg DOM 40 (31); avg sale to list price – 97% (98.6%)
  • The average price for a resale residence in Collingwood was: detached – $455,342 ($403,404), condo – $319,060 (281,578).

The Blue Mountains:

  • The high sale of Q3 was a waterfront home near Georgian Peaks for $3,945,000, one of 8 sales over $1M.
  • The low sale was an unrenovated studio condo in Mountain Springs for $87,000.
  • Q3 (vs Q2): Condos – 10 listed, 18 sold (20 listed, 17 sold); avg DOM 89 (164); avg sale to list price – 97.1% (96.7%)
  • Single Family Homes – 41 listed, 67 sold (25 listed, 15 sold); avg DOM 65 (80); avg sale to list price – 96.4% (94%)
  • The average price for a resale residence in Blue Mountains was: detached – $601,458 ($538,582), condo – $308,750 (308,429).

Clearview (Nottawa & Nottawasaga districts):

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.

  • The high sale of Q3 was a 6,000 SF home on 100 acres near Creemore for $2.9M, one of 5 sales over $1M.
  • The low sale was a small home on 2 acres near Dunedin for $257,000.
  • Q3 (vs Q2):): Single Family Homes – 20 listed, 11 sold (11 listed, 11 sold); avg DOM 95 (105); avg sale to list price – 93.4% (94%)
  • The average price for a resale detached residence was $469,628 ($366,706).

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.

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