Thursday, August 16, 2012

Area Single Family Home Sales Up 12% in 2012

  Single family home sales reported through the MLS® system of the Georgian Triangle Association of REALTORS® (GTAR) are up 12% to the end of July compared with the first 7 months of 2011. A total of 806 homes have been sold versus 718 through the end of July last year.

  MLS® condominium sales remain unchanged from 2011 with a total of 184 condominiums sold year-to-date. What has changed however is the location of those sales. Condo sales in Collingwood during the first 7 months of 2012 total 117 properties up 16% from the 101 units sold year-to-date July 2011. Condominium sales in the Blue Mountains however are down 30% this year with 48 MLS® sales reported compared to 69 units sold in the first 7 months of 2011.

  Vacant land sales while not robust, are up 8% this year with 77 MLS® sales reported thus far. With an abundance of MLS® listed re-sale properties on the market and the high cost of building, many buyers are simply electing to purchase and if necessary renovate an existing dwelling versus engage in a lengthy building process.

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