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Blue Mountain Real
Estate News
1st Quarter
2007
The late start to the 2006/2007 ski
season ultimately was mitigated by an extremely strong
showing. Throngs of visitors arrived post
mid-January. A modest softening in real estate
sales was experienced through March, but overall the
unseasonable weather did not appear to seriously affect
area real estate sales. For the first three months of
2007 ending March 31, unit sales declined 12.4% compared
to 2006; however, year to date sales revenue is down
only a modest 1.6%. The decreased sales volume was
offset by sales of higher end products. The number of
listings for 2007 compared to 2006 is essentially equal.
Expired listings for the first quarter of 2007 are up
20% suggesting that many properties are not being priced
realistically to meet current market conditions. Year to
date sales and listing results for the Georgian Triangle
Real Estate Board for 2007 are summarized below.
2007 Georgian Triangle Residential Property Market
Analysis
March 2007 YTD
March 2006 YTD
%+-
Total # of new Residential Listings
1,203
1,199
0.0%
Total # of Expired Residential
Listings
478
399
20.0%
Total # of Residential Sales
367
419
-12.4%
Total Sales Volume
$94,304,594
$95,790,883 -1.6%
Residential Property Sales $350K+
59
57
.3%
Res. Prop. Sales $500K+
23
23
0.0%
Res. Prop. Sales $500K - $750K
13
19
-31.6%
Res. Prop. Sales $750K - $999,999.
5
3
66.6%
Res. Prop. Sales $1.0 million+
5
1
400.0%
Average Residential Price
$271,207
$253,628
6.9%
March Year-to-date Residential Property Listing &
Sales By Area
Listings
Sales
2007
2006 %+-
2007
2006
%+-
Clearview
88
79 11.4%
152
152 0.0%
Collingwood 116
132 -12.1%
268
313 -14.4%
Grey Highlands 59
45 31.1%
76
74 2.7%
Meaford
48
78 -38.5%
135
145 -6.9%
Twn Blue Mtns 118
104 13.5%
164
138 18.8%
Wasaga Beach 227
240 -5.4%
409
433 -5.5%
Georgian Triangle 12 Month Residential Property Price
Comparison
2007
2006
%+-
Clearview
$307,966
$249,266
23.5%
Collingwood
$236,186
$220,829
6.9%
Grey Highlands
$297,498
$236,522
25.7%
Meaford
$240,341
$231,428
3.8%
Town of Blue Mountains
$420,813
$392,841
7.1%
Wasaga Beach
$229,488
$213,812
7.3%
Market Forecast
The Canadian Real Estate
Association forecasts that national home sales will
remain robust through 2007 and 2008. It is anticipated
that mortgage rates will remain low and this, combined
with strong consumer confidence, will maintain strong
momentum in the residential housing market throughout
the balance of 2007.
|
MLS® residential average price forecast |
2006 |
2006
annual percentage change |
2007
forecast |
2007
annual percentage change |
2008
forecast |
2008
annual percentage change |
|
Canada |
276,974 |
11.1 |
296,200 |
6.9 |
310,400 |
4.8 |
|
British Columbia |
390,963 |
17.7 |
427,800 |
9.4 |
454,000 |
6.1 |
|
Alberta |
285,497 |
30.8 |
329,800 |
15.5 |
353,700 |
7.2 |
|
Saskatchewan |
132,078 |
7.6 |
142,900 |
8.2 |
152,200 |
6.5 |
|
Manitoba |
150,229 |
12.2 |
164,500 |
9.5 |
177,100 |
7.7 |
|
Ontario |
278,455 |
5.9 |
289,500 |
4.0 |
298,500 |
3.1 |
|
Quebec |
194,024 |
5.1 |
201,700 |
4.0 |
208,400 |
3.3 |
|
New Brunswick |
126,864 |
5.2 |
131,900 |
4.0 |
135,400 |
2.7 |
|
Nova Scotia |
169,237 |
6.3 |
178,900 |
5.7 |
186,600 |
4.3 |
|
Prince Edward Island |
125,430 |
7.0 |
133,300 |
6.3 |
137,400 |
3.1 |
|
Newfoundland |
139,542 |
-1.2 |
143,200 |
2.6 |
146,000 |
2.0 |
|
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