Real Estate Market Brief – January through June 2008. The Collingwood area, like the rest of the world, is reacting to the economic uncertainties of our time, yet Canadian Real Estate Magazine says we're one of 10 best places to invest in the country!
Our bullish belief in real estate and this area as excellent investment vehicles goes forward, too. Consider the numbers of people who will choose to have a property in the Georgian Triangle in the next 20-30 years!
We have the lifestyle and amenities to attract the active retiree, we have the infrastructure and facilities to attract young families, and we have the fun and games to attract vacationers all seasons. The astute investor looks to the future. Include in your calculations your own enjoyment of this playground just 2 hours from our country's major commercial centre, where else could you feel so safe, personally, socially, & economically?
GOOD NEWS (for a change!): The Federal Government adjusted mortgage rules to protect & strengthen our housing market; Bank of Canada says "major reversal in house prices is unlikely in the near term"; IMF declares "Canada 1 of only 2 major-market countries where home prices are undervalued" and "turbulence in the housing sector won't lead to macroeconomic instability as in the US"; MPAC in '09 will have to prove the high assessment on your property if you challenge them (not vice-versa as it has been); Clarksburg is $5M closer to municipal water & sewer servicing (call or e-mail us for details).
LOCAL MLS® STAT'S: While the Georgian Triangle shows a slowing listing to sales ratio due to the plethora of choice for buyers today ('07 was 38%, '08 is 31% so far), the overall average residential sale price is still up 1.26% and 864 residential properties have sold, only 10% less than Jan-June '07. In Clearview, Collingwood, & The Blue Mountains, to date 129 condos have changed hands, a 41% list to sell ratio, ranging in price from $67,900 to $620,000, and in Clearview, Collingwood & TBM to date 284 detached homes have sold, also a 41% list to sell ratio, with a price range of $125,000 to $1,880,000. In terms of popular price point throughout the region - 511 sales $100-$250K, 310 sales $$250-$500K, 51 sales $500-$800, 6 sales $800K-$1M, & 8 sales $1M+.
In our own stock portfolios, our managers are "taking the opportunity to buy many great businesses at very attractive prices" - a compelling message for real estate buyers, and to quote two good clients: "In adversity, North Americans re-invent themselves. The other side of this valley will be huge!"
Not intended to solicit persons nor properties already under Agency contract.