REAL ESTATE MARKET SNAPSHOT – Q3 2021 IN REVIEW

Our focus for this article, as usual, will be on the 3 key trading areas and types of homes with which we have the most expertise – re-sales of residential condominiums and detached homes in Blue Mountains, Collingwood and Clearview. July continued Q2’s trend of 2 months of inventory but that dropped again to 1 month in August & September. The pace of sales slowed slightly to 26 days average time for a property to sell (16 in Q2), but the average sale price increased again by 7.92% to $970,166 from Q2’s $879,346. The parameters for “most sales” moved higher by $100,000 with most in the $600,000 – $850,000 price range, 74 sold over $1M, 21 over $2M, 6 over $3M, and 2 over $4M.

HIGHS, LOWS & SPECIFICS

COLLINGWOOD: less sales, longer to sell, less sales over ask, condo values up slightly but negligible increase in avg sale price for detached homes.

The high sale was a 3200 SF waterfront home in east CW for $2,850,000.
The low sale was a 2 bdrm, 1 bath 853 SF condo on Eighth St. for $285,000.
There were 75 (104 in Q2) condo sales, with an average of 21 (18) Days on Market (DOM), avg sale to list price ratio was 98.8% (102.86%), and the avg sale price was $649,815 ($636,717) which reflects a 2.1% increase over Q2.
There were 109 (129) single-family home sales with an average of 20 (13) DOM, avg sale to list price ratio was 100% (102.6%), and the avg sale price was $908,734 ($907,793) almost status quo with Q2.

BLUE MOUNTAINS: less sales, longer to sell, less sales over ask, decreased avg sale price for condos, detached home values way up.

The high sale was a 9300 SF home at the Georgian Bay Golf Club for $4,700,000.
The low sales were 4 income units in the condo-hotels at Blue Mountain for $207,000 to $274,000.
There were 44 (75) condo sales, with an average of 34 (22) DOM, avg sale to list price ratio was 98.4% (100%), and the avg sale price of $632,575 ($694,882) reflects a 9% decrease from Q2.
There were 60 (69) single-family home sales, with an average of 29 (17) DOM, avg sale to list price ratio was 98.2% (103.1%), and the avg sale price was $1,705,476 ($1,328,021) which reflects a 28% increase over Q2.

CLEARVIEW: less sales, longer to sell, less sales over ask, increased avg sale price.

The high sale was a 5200 SF home on 50 acres near Creemore for $3,200,000.
The low sale was a 1 bdrm, 1 bath home in north Stayner for $210,000.
There were 74 (88) single-family home sales, with an average of 20 (12) DOM, avg sale to list price ratio was 99.6% (102.2%), and the avg sale price was $994,670 ($929,800) reflecting a 7% increase over Q2.