Collingwood / Georgian Triangle Market View - February 2010

The Georgian Triangle Real Estate Board has published real estate sales results for the month of February 2010 and all indications are that the second of the month of the year produced strong results.

A total of 107 properties were traded through the Georgian Triangle's MLS system during the month of February 2010 compared to 77 during the same month in 2009. This represents an amazing 39% increase in the number of sales. The total number of sales year to date at the end of February 2010 was 188 compared to 129 during the same period in 2009. This represents a 46% increase.

The number of new listings introduced to the board's MLS system decreased in February 2010 compared to the same month in 2009 from 398 to 346. This represents a 13% decrease in inventory. The total number of new listings introduced to the board's MLS system year to date at the end of February 2010 decreased by 2% from the same period in 2009 from 860 to 843.

The most number of sales last month took place in Wasaga Beach with a total of 54 transactions. The second most active area with respect to real estate sales last month was in the Town of Collingwood with a total of 42 transactions taking place. And the third most active area in February with respect to residential property sales was in the Town of Blue Mountains with a total of 32 transactions taking place.

The total sales dollar volume last month increased by 52% from $19,220,962 in February 2009 to $29,156,500 in February 2010.

The average sale price recorded for re-sale property during the month of February 2010 was $287,390 compared to $265,407 during the same month in 2009. This represents an 8% increase.

The average sale price in February in Collingwood was $244,793. Sales in the Town of Blue Mountains produced an average sale price of $370,643 last month and Wasaga Beach recorded an average sale price of $278,858.

Of the 107 sales reported last month through the MLS system, only 7 were sold above $500,000 and none were reported sold above $1 million.

As interest rates continue to remain at historic lows and consumer confidence in the economy continues to grow, we can expect sales results across the area to continue at a steady pace.

Prepared by: Justine Deluce, Vice President, Operations
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