Collingwood Real Estate News Views and Statistics - Collingwood Condos - Collingwood Real Estate News - Area Real Estate Sales Jump 65% in 1st Quarter

Area Real Estate Sales Jump 65% in 1st Quarter Hide Body

Area real estate sales rebounded significantly in March with monthly unit sales increasing 89% over the same month last year. Historically low mortgage rates, solid consumer confidence and a good selection of properties available during the first quarter of 2010 resulted in many buyers realizing it was the time to buy, assisted by their local REALTOR®.

Unit sales activity in the first quarter rose sharply from the first quarter of last year with 388 properties changing hands this year versus 235 in the first quarter of 2009, an increase of 65%.

The first quarter exhibited strong sales activity throughout most segments of the region, with sales volume of $106,750,950 up 91% over that of $55,234,868 in the first 3 months of 2009.

Comparing first quarter 2010 to the strong fourth quarter results of 2009, unit and dollar volume are down 17% and 16% respectively, reflecting a typically quiet first quarter start in annual sales activity.

Of the 388 sales during the first quarter, 200 alone occurred in March (51%) generating $57,114,570 (53%) of year-to-date 2010 sales volume.

During 2010, first quarter sales increased in every price range over the first quarter last year.

Property sales below $250,000 increased 20%, first quarter sales in 2010 between $250,000 - $500,000 increased a substantial 183% while sales from $500,000 - $1 Million increased 92%.

Sales over $1 Million totalled 2 properties versus 1 sale in the first quarter of 2009.

Of significant note, two sales in excess of $2 million were reported in March, a price which has only been attained on two prior occasions in the MLS® sales history of the Georgian Triangle Real Estate Board.

Unquestionably this spring has seen a seasonal upturn in market activity of unprecedented proportions.

The number of new MLS® listings during the first quarter of 2010 totals 1,457 units, up 33% from the last quarter of 2009 and 7% ahead of the 1,360 properties listed in the first quarter of 2009.

In particular March 2010 reflected strong listing activity with 614 listings representing 42% of the year-to-date new listing total of 1,457 properties coming to market through the Georgian Triangle Real Estate Board (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, Blue Mountains, Grey Highlands and Meaford). To date, 723 listings expired in the first quarter of 2010 down 14% from the number of expired listings in the first three months of 2009.

While market conditions are expected to remain stable in second quarter, those sellers who are contemplating listing their property in the months ahead, particularly to avoid the added selling costs associated with the introduction of the H.S.T. on July 1st, are encouraged to consult a local REALTOR® to obtain a qualified evaluation of their home. Doing so will ensure their property is IN the market, not just ON the market.

For more in depth analysis of a specific municipality, contact me, your Local REALTOR® of the Georgian Triangle Real Estate Board.

Information provided by the Georgian Triangle Real Estate Board, copyright 2010. E&OE.

Ed Pakstas (Broker)
c/o Sutton On The Bay Realty Ltd. Brokerage
Direct Line: 705.444.0060 | 888.442.0060
Office: 705.422.0064 | Fax: 705.422.0068
Web: www.CollingwoodCondos.com

Servicing the Collingwood Blue Mountain Real Estate Market Since 1995 (Not intended to solicit properties already listed for sale)

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[Posted: 05/05/2010 05:24 PM]

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