June 2009 sales surpass June2008
The entire second quarter of 2009 (Q2 2009) exhibited continued strong showing and sales activity 
throughout the region, making up for the market’s lack luster performance in the first two months of the year. As a result, Q2 2009 sales were 99% of Q2 2008 sales, versus what we saw in Q1 2009 which was 62% of Q1 2008 sales. As indicated in the monthly sales volume graph, June 2009 was a stellar month, showing for the first time an increase in both sales volume and units over 2008. Historically low mortgage interest rates continued throughout Q2 2009, despite a small increase in longer term mortgage rates. The next Bank of Canada rate announcement will be July 21st . Continued low interest rates, a good selection of properties available from which to choose and stable pricing have many buyers realizing now is the time to buy, with the help of their local REALTOR®.
The number of new real estate listings for the Georgian Triangle Real Estate Board (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, Blue Mountains, Grey Highlands and Meaford) are down significantly for Q2 2009 at 1590 listings, compared with 1773 listings for the same period in 2008. While it’s still a buyers market, this is good news for sellers in the Georgian Triangle as these figures indicate we may be moving towards a more balanced market with less housing inventory, reducing the competition.
Comparing quarterly sales, unit sales were 535 for Q2 2009 versus 540 for Q2 2008, with corresponding dollar volumes of $135,956,847 and $138,090,638 respectively. As we see in the chart, the quarterly figures were only slightly lower than the same period last year (which was a banner year). The exception was the $1+ million sales range, where Q2 2009 figures reflect sales of 6 homes versus only 2 in the same period last year.
As reported earlier, June 2009 sales pulled ahead of June 2008 with unit sales of 206 versus 177 and with corresponding dollar volumes of $50,660,918 and $43,715,345 respectively. New listings for June 2009 were 519 compared to 586 for June last year. As a result, the real estate market in the Georgian Triangle area is active and stable (with 4 months of consistency), is still a buyer’s market but is showing indications of moving towards a more balanced market, with interest rates still at historic lows.
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Information provided by the Georgian Triangle Real Estate Board, copyright 2009. E&OE.