Collingwood / Georgian Triangle Market View - December 2009

The Georgian Triangle Real Estate Board has published year end sales data for the residential re-sale market for 2009.  Sales results for December 2009 are a vast improvement over market activity recorded during the same thirty-one day period in 2008.  And while the market dynamics in place during the two months couldn't be more different, the uptick in sales activity is a welcome shift in direction.

A total of 109 properties were traded through the Georgian Triangle's MLS system during the month of December 2009 compared to 57 during the same month in 2008.  This represents an amazing 91% increase.  Real estate sales for December 2009 also surpassed sales recorded during the same month in 2007 when just 92 properties were traded through the MLS system.  This represents an 18.4 % increase. 

The total number of sales reported through the Georgian Triangle's MLS system for 2009 was 1857 compared to 1720 during 2008.  This represents an 8% increase.  Sales activity recorded during 2009 did not quite catch up to the number of sales recorded during 2007 when 2175 properties were reported sold.  This represents 17% more transactions then were recorded during 2009.  

The total sales dollar volume reported for the month of December 2009 was $27,273,006 compared to $12,962,600 for the same period in 2008.  This represents a staggering   110% increase.  The total sales dollar volume reported year-to-date at the end of December 2009 was $484,646,974 compared to $441,044,393 for the same 12 month period in 2008.  This represents a 10% increase.  

There were 282 new properties introduced to the Georgian Triangle's MLS system during the month of December 2009 compared to 246 during the same period in 2008.  This represents a 13 % increase.  The total number of new listings introduced to the board's MLS system during 2009 was 5875 compared to 6000 during 2008.  This represents a 2% decrease in the number of new properties available to buy through the MLS system.  

The average sale price recorded for residential re-sale property during the month of December 2009 was $271,486 compared to $261,557 during December 2008.  This represents a 3.7% increase.  The average sale price recorded year-to-date at the end of December 2009 was $285,785 compared to $278,974 during the same period in 2008.  This represents a 2.4% increase.

Sales at the high-end of the Georgian Triangle improved marginally in 2009.  There were 15 sales reported through the MLS system above the $1 million price point in 2009 compared to 11 reported during 2008. 

While real estate sales reported during the last quarter of 2009 helped make up for the sluggish sales activity reported at the start to the year, buyers continue to be somewhat cautious when it comes to a discretionary purchase such as a ski chalet.  However, as indicated above, the number of buyers actively looking to make such an acquisition at the end of 2009 increased significantly compared to the beginning of that year.  As interest rates remain low, we expect sales activity across the area to remain relatively healthy.  However, speculation that rates will creep upwards as the New Year progresses have some believing that the recent burst in sales activity across the area may be short lived. 

Prepared by: Justine Deluce, Vice President, Operations
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