Real Estate Market Review – Q1 / Q2 2025 in Review
To quote Shaun Cathcart, CREA’s Senior Economist, from June’s CREA Housing Market Report: “Some of that rebound that we were expecting may have just moved from the first half of the year to the second, but it’s still not going to be a blow-the-doors-off year, there is still a lot of uncertainly out there, but I think we’ve turned a corner.” It’s an interesting point of view given some of the CREA data from May that shows national home sales were up only 3.6% in May over April and activity (sales) came in 4.3% below May 2024, new listings rose 3.1% on a month-over-month basis, the MLS® Home Price Index was down 3.5% from 2024, and the national average sale price was down 1.8% over 2024.
Our local market continues at its slow pace, and a quarterly review just doesn’t provide enough sales statistics to give an accurate picture, so I am looking back on six month periods. In the interest of brevity, my focus for this report will be the three key trading areas and home types with which I have the most expertise: sales of residential condominiums and detached homes in The Blue Mountains and Collingwood, and Clearview near these. I also serve Wasaga Beach and Meaford and would be pleased to provide an analysis for those areas for you upon request.
We continue to be solidly in a “Buyers’ Market” and those with the confidence and capability are securing properties at prices not seen in years. Listings are taking about 58 days to sell, which is slightly slower than a year ago, indicating that buyers continue to feel no urgency in a purchase decision and see too many choices, a known psychological factor that inhibits decision making. The median number of listings each month was around 300 with only about 23% selling. June was our month of most sales, which is certainly a hopeful trend.
HIGHS, LOWS & SPECIFICS
(brackets show 2024 Q1/Q2 values)
COLLINGWOOD:
More property sales, faster sale times, overall values down.
- The high sale was a 5 bdrm waterfront home w 130’ frontage for $3,550,000.
- The low sale was a 1 bdrm/1 bath condo in Living Stone (Cranberry) for $255,000.
- 102 (75) condo sales; avg of 66 (109) days on market (DOM), avg sale-to-list- price ratio of 96.6% (96.8%); avg sale price of $585,447 ($655,377), down 10.6%.
- 153 (144) single-family home sales; avg DOM of 49 (82); avg sale-to-list-price ratio of 96.8% (96.3%); avg sale price of $920,020 ($935,812), down 1.6%
THE BLUE MOUNTAINS:
More property sales, faster sale times, condo values down, detached home values up slightly.
- The high sale was a 6 bdrm chalet near Craigleith & Alpine ski clubs for $3,800,000.
- The low sales were 2 studio condo units in the hotels at The Village at Blue, selling just under $300,000.
- 51 (36) condo sales; avg of 55 (95) DOM; avg sale-to-list price ratio of 97.1% (96.7%); avg sale price of $647,092 ($726,069), down 12%.
- 88 (85) single-family home sales; avg DOM of 71 (97); avg sale-to-list-price ratio of 95.8% (95.5%); avg sale price of $1,371,220 ($1,336,512), up 2.5%.
CLEARVIEW (within 15 kms of Collingwood):
Less sales, faster sale times, values down.
- The high sale was a 37 acre estate between Nottawa and Duntroon for $3,750,000.
- The low sale was a bungalow in east Stayner for $340,000.
- 57 (75) single-family home sales; avg of 53 (80) DOM; avg sale-to-list-price ratio of 96.4% (97.3%); avg sale price of $886,500 ($987,726), down 11%.
