Q4 2009 Sales Revenue Double Q3 2008
The fourth quarter of 2009 (Q4 2009) exhibited strong sales activity throughout most segments of the region, with Q4 2009 sales revenue more than double that of Q3 2008 sales totaling $127,503,080.
Historically low mortgage rates, strong consumer confidence and a good selection of properties available during the fourth quarter resulted in many buyers realizing it was the time to buy, assisted by their local REALTOR®.
As reflected in the chart above, the number of new MLS® listings in the fourth quarter for the Georgian Triangle Real Estate Board (which includes the municipalities of Collingwood, Wasaga Beach, Clearview, Blue Mountains, Grey Highlands and Meaford) totaled 1,091 units, down from 1,232 units (or 11%) Q4 2009 versus Q4 2008. Unit sales activity in the fourth quarter rose sharply from the 4th quarter of last year with 469 properties changing hands this year versus 258 in the fourth quarter of 2008, an increase of 82%.
During the fourth quarter, sales increased in virtually every price range. Property sales under $250,000 increased 56% over Q4 2008. Fourth quarter sales in 2009 between $250,000-500,000 increased 132%; sales from $500,000-$1 million increased 119% while sales over $1 million totaled 3 properties versus none in the fourth quarter of 2008.
Year-to-date 2009 sales revenue of $484,646,974 represents a 10% increase over 2008 and was merely 15% below 2007’s record sales of $571,338,700. 2009 YTD unit sales totaled 1,857 properties up 8% from the 1,720 properties sold in 2008. The total number of new listings in 2009 totaled 5,875, down 2% from the 6,000 new listings that came to market in 2008. Conversely, the number of expired listings in 2009 increased by 6% to 3,112 units, reflecting the strong competition amongst sellers that exists in the marketplace combined with buyer’s unwillingness to overpay. While market conditions are expected to continue to improve in 2010, those sellers contemplating listing their property in the months ahead are encouraged to consult a local REALTOR® to obtain a qualified evaluation of their home. Doing so will ensure your 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 2009. E&OE.