NEWS FLASH!!!...
Collingwood Real Estate Prices Plummet!!!...
Collingwood real estate statistics indicate that prices have dropped about 15% to 20% since September 2006 and sales have slowed to a crawl. Other
than a few reality checks, it appears that current Collingwood condo price levels are maintaining a relative level of stability and have been so
since early fall 2008.
Current sales-to-new-listings ratios indicate that
WE ARE DEFINITELY IN A BUYERS MARKET, so if your going to list,
LIST TO SELL!
AS YOUR REPRESENTATIVE my goal is to obtain the best price for your property when selling and to find you the best
property, in the best location, for the best price when buying.
I have been buying and selling real estate since the market topped out 1n 1990 and began selling Collingwood real estate at the bottom of the
previous high, which was in 1995. I am now seeing a repeat of the 1995 trough when buyers were golden.
BUY LOW, BUY NOW while supply is high and demand is low as by the summer of 2009 we may see a resurgence of pent up
demand if interest rates maintain current levels or continue to fall.
The sales-to-new-listings ratio measures the balance between demand and supply. A ratio of above 55 to 60 percent for a sustained period of time
points to the seller's market conditions. A ratio below 55 percent is consistent with more balanced market conditions. A
BUYER'S
MARKET represents a downward trend in real estate sales and a sales-to-new-listing ratio of
below 35 percent
.
To review compiled statistical listings and sales data for 2007/2008 as provided by the Georgian Triangle Real Estate Board,
Click here. I have removed the total dollar volumes from these
statistics as the amounts are totally askew and do not realistically represent values of properties in a specific residential area (e.g. Cranberry
Village). DO NOT let anybody tell you that property values are rising just because total dollar volume for a specific month went up as it's just not
true.
As of the end of December 2008, annual
GTREB statistics are reporting a total sales-to-new-
listings ratio of:
29.98%
