Area Real Estate Sales: Fourth Quarter Down; Year Up
Area real estate sales reported through the MLS® system of the Georgian Triangle Real Estate Board (GTREB) slowed in the fourth quarter of 2010 vs the same quarter last year. The Bank of Canada again maintained its benchmark overnight rate during this quarter at 1.00% reflecting the Bank's view that the economic recovery in Canada is proceeding at a moderate pace, with economic activity in the second half of 2010 appearing slightly weaker than the Bank has projected in it's October Monetary Policy Report.
Quarterly, MLS® unit sales activity dropped 15.3%, with 394 properties selling in Q4 2010 vs 465 in Q4 2009; the resulting sales volume of $115,241,659 (Q4 2010) represents a 9.2% decrease over sales of $126,876,080 for Q4 2009. As reflected in the chart below, all price categories in Q4 2010 showed a marked decrease from Q4 2009, with the exception being in the $1,000,000 + range where 5 houses sold in Q4 2010 vs 3 sales in Q4 2009 which represents a 66.7% increase. Number of sales in the $0 - $249,999 range decreased a significant 19.8%, and the $250,000 - $499,999 range decreased 11.5% (Q4 2010 vs. Q4 2009). New MLS® listings totalled 1,189 in Q4 2010, representing a nominal increase of 1.3% over the 1,174 properties listed in Q4 2009.
Annually, 2010 MLS® unit sales of GTREB are up 2.7%, wherein 1,906 properties have changed hands, surpassing the 1,855 properties sold last year. Annual MLS® 2010 sales volume of $544,833,365 represents a solid 12.5% increase over 2009 sales of $484,385,974 driven by significantly higher sales activity in the upper price ranges of the market. As noted in the chart above, most price categories have seen an increase in number of unit sales 2010 vs. 2009. The exception is the under $250,000 price range which saw 1,014 sales in 2010 vs. 1,117 in 2009, a decrease of 9.2%. Sales in the remaining price ranges for the year are as follows: $250,000 to $499,999 saw 711 sales vs. 613, or 16% increase; $500,000 to $999,999: had 153 vs. 110 sales or a 39% increase and in the over $1 Million category: 28 sales vs. 15 sales, or an increase of 86.7%.
In Wasaga Beach, sales were down 3.3%, with 357 properties selling YTD versus 369 in December 2009. Following the trend, the YTD average sale price of a home in Wasaga Beach has gone up to $267,477 from $255,557 in 2009. The above statistics only reflect market activity as reported by the MLS® system of the Georgian Triangle Real Estate Board and do not include additional sales by private sellers or new home sales made by developers and others.
The current Georgian Triangle MLS® sales-to-listing ratio reflects market conditions where approximately one in three houses listed for sale sell. The balanced market conditions of early 2010 tipped slightly in favour of buyers during the latter half of the year. Now is the time to enlist the help of Lifestyle Realty Associates, your local REALTOR® for professional advice on pricing and marketing your home to best attract buyers. For buyers, we can provide comparable sales data to help you make informed decisions when offering on your dream home, your first home, a commercial property and everything in between.
Information provided by the Georgian Triangle Real Estate Board, copyright 2011. E&OE.
Georgian Triangle Real Estate Board
| Georgian Triangle Real Estate Board
|
MLS® Listing & Sales Market Snapshot
| MLS® Listing & Sales Market Snapshot
|
December 2010 YTD
| Q4 2010 vs Q4 2009
|
YTD 2010
| YTD 2009
| % +/-
| Q4 2010
| Q4 2009
| % +/-
|
YTD Unit Sales
| 1906
| 1855
| 2.7%
| Q4 Unit Sales
| 394
| 465
| -15.3%
|
YTD Listings
| 6,316
| 5,899
| 7.1%
| Q4 Listings
| 1,189
| 1,174
| 1.3%
|
YTD $ Volume
| $544,833,365
| $484,385,974
| 12.5%
| Q4 $ Volume
| $115,241,659
| $126,876,080
| -9.2%
|
# Sales to $249,999
| 1014
| 1117
| -9.2%
| # Sales to $249,999
| 210
| 262
| -19.8%
|
$250,000 to $499,999
| 711
| 613
| 16.0%
| $250,000 to $499,999
| 146
| 165
| -11.5%
|
$500,000 to $999,999
| 153
| 110
| 39.1%
| $500,000 to $999,999
| 33
| 35
| -5.7%
|
$1.0 Million +
| 28
| 15
| 86.7%
| $1.0 Million +
| 5
| 3
| 66.7%
|