COLLINGWOOD REAL ESTATE MARKET REPORT: 2015 IN REVIEW COLLINGWOOD REAL ESTATE MARKET REPORT: 2015 IN REVIEW Part 1: Market Overview Record-breaking sales volume of $213,700,193, sales units of 657, and average sale price of $325,267 (up 18.9%, 8.1% and 10% respectively over 2014’s previous records)! Sales units up a huge 82.9% in the $500K-$799K range and up 31% in the $300K+ range. The record sales came despite 2015’s total listings being down 16.1% from 2014, such that the sales-to-listings ratio was a super-high 55.9%, with expired listings down 39.3%. All this suggests the demand for listings still greatly exceeds the supply. In fact, many REALTORS® say sales would’ve been higher if there were more homes on the market. Table 1: Collingwood MLS® Sales And Listing Summary, 2014 vs 2015 Sales ($) Sales (Units) Sales: Under $100,000 Sales: $100K – $299K Sales: $300K - $499K Sales: $500K - $799K Sales: $800K - $999K Sales: $1M - $1.499M Sales: $1.5M + Average Listing Price Average Sale Price Sales/Listings Price Ratio New Listings Sales/Listings Unit Ratio Expired Listings Average Days-On-Market 2014 2015 Difference % +/- $179,722,540 608 4 378 181 35 6 3 1 $306,015 $295,596 96.6% 1375 44.2% 382 70 $213,700,193 657 4 357 217 64 9 5 1 $336,764 $325,267 96.6% 1154 55.9% 232 64 + $33,977,653 +49 0 -21 +36 +29 +3 +2 0 $30,749 +$29,671 0% -221 +11.4% -150 -6 +18.9% +8.1% 0% -5.6% +19.9% +82.9% +50% +67% 0% +10% +10% 0% -16.1% +26.5% -39.3% -8.6% NOTE: All MLS®sales data in this report comes from the Southern Georgian Bay Association Of REALTORS®. Graph 1: Collingwood MLS® Sales, 2014 vs 2015 (Dollars) Graph 2: Collingwood MLS® Sales, 2014 vs 2015 (Units) Graph 3: Collingwood MLS® Monthly Sales, 2014 vs 2015 (Dollars) Graph 4: Collingwood MLS® Monthly Sales, 2014 vs 2015 (Units) Graph 5: Collingwood MLS® Sales, 2014 vs 2015 (By Type) Part 2: Single-Family Homes Record-breaking 2015 dollar and unit sales, up 14% and 7.2% respectively over 2014. 2015 average sale price up a healthy 6.4%, with average days-on-market down 6 days. Metrics show that demand for listings exceeded supply throughout 2015 and still does. Table 2: Collingwood MLS® Single-Family Home Summary, 2014 vs 2015 Sales ($) Sales (Units) Average Listing Price Average Sale Price Sale/Listing Price Ratio Average Days-On-Market 2014 2015 Difference % +/- $122,107,880 349 $361,788 $349,879 96.7% 66 $139,197,405 374 $386,052 $372,186 96.4% 60 +$17,089,625 +25 $24,274 +$22,297 -.3% -6 +14% +7.2% +6.7% +6.4% -.3% -9.1% Graph 6: Collingwood MLS® Single-Family Home Sales, 2014 vs 2015 (Dollars) Graph 7: Collingwood MLS® Single-Family Home Sales, 2014 vs 2015 (Units) Part 3: Condominiums Record-breaking 2015 dollar and unit sales, up 28% and 8.5% respectively over 2014! Average 2015 sale price was up 17.9% over 2014! Metrics show that demand for listings exceeded supply throughout 2015 and still does. Table 3: Collingwood MLS® Condominium Summary, 2014 vs 2015 Sales ($) Sales (Units) Average Listing Price Average Sale Price Sale/Listing Price Ratio Average Days-On-Market 2014 2015 Difference % +/- $57,614,660 259 $230,862 $222,450 96.4% 75 $73,727,788 281 $270,677 $262,376 96.9% 70 +$16,123,128 +22 +$39,815 +$39,926 +.5% -5 +28% +8.5% +17.2% +17.9% +.5% -6.7% Graph 8: Collingwood MLS® Condominium Sales, 2014 vs 2015 (Dollars) Graph 9: Collingwood MLS® Condominium Sales, 2014 vs 2015 (Units) Part 4: Vacant Land 2015 sales volume and units changed little from 2014, with average sale price up 14.1%. However, there are so many variables in vacant land sales and so few transactions in any given year that it is difficult to draw general conclusions about the market. Table 4: Collingwood MLS® Vacant Land Summary, 2014 vs 2015 Sales ($) Sales (Units) Average Listing Price Average Sale Price Sale/Listing Price Ratio Average Days-On-Market 2014 2015 Difference % +/- $2,027,000 17 $131,382 $119,235 90.8% 131 $2,040,500 15 $161,113 $136,033 84.4% 164 +$13,500 -2 +$29,731 +$16,798 -6.4% +33 +.7% -11.8% +22.6% +14.1% -7.6% +25.2% Graph 10: Collingwood MLS® Vacant Land Sales, 2014 vs 2015 (Dollars) Graph 11: Collingwood MLS® Vacant Land Sales, 2014 vs 2015 (Units) Royal LePage Locations North In 2015 2015 was yet another record-breaking year for Royal LePage Locations North. We: Broke our own Georgian Triangle record for annual MLS sales (set in 2014) with just under $160,000,000 – up 31% from 2014 and more than tripling our 2011 sales! Sold 47% more real estate than our nearest competitor Were #1 in each of our primary markets – Collingwood, The Blue Mountains, Thornbury and Meaford (we only opened our Wasaga Beach office in June, 2015) We couldn’t have done all this without the trust that our clients have placed in us. SO A BIG THANK-YOU to EVERYONE! We look forward to serving you when you decide to buy or sell. We Give YOU Options At Locations North, we do everything we can to put YOU first – and that includes respecting your privacy by enabling you to choose your level of engagement. Please check out our video to see how we do it. Collingwood Office 330 First St., Collingwood ON 705-445-5520 Thornbury Office 27 Arthur St., Thornbury ON 519-599-2136 Meaford Office 96 Sykes St. Meaford, ON 519-538-5755 Wasaga Beach Office 1288 Mosley St., Unit 7 Wasaga Beach, ON 705-617-9969 Creemore Office 143 Mill St. Creemore, ON 705-881-9005
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