Collingwood, ON

Everyone has surely heard about the fall from grace of our local MP for Simcoe-Grey, Helena Guergis so we won't even go there. One of her last acts before being expelled from the Conservative caucus though was to bring some very good news to our area.

Georgian College will receive an investment of $4 million for a new Collingwood Campus through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). While Georgian has had a presence in Collingwood for many decades, it has been a part-time campus more or less with locations spread out around the town. In a recent media release, Brian Tamblyn, President and CEO of Georgian College stated, "This investment in a new, permanent home for Georgian College serving Collingwood, Wasaga Beach, Clearview Township, Meaford and Town of the Blue Mountains, will go far in helping to address short and long-term economic needs of the entire area. A new consolidated campus will allow Georgian to continue to expand its enrollment by as much as 20 per cent annually."

I've also heard that the College will have degree granting capabilities through its University Partnerships Program. For a very long time now, Collingwood has identified the need for a full-time post-secondary education facility in the community. Mayor Chris Carrier and Collingwood Council are to be congratulated for their significant efforts in bringing this about. While the location has not yet been announced, rumour has it that it will be located in the new Industrial Park at the south-east end of town.

P.S. Ski Season Passes On Sale
You can save the PST on your 2010/2011 ski pass for Blue Mountain if you hurry. The 5 x 7 ski pass allows you to ski 5 days a week, Monday to Friday from 9 am to 4:30 pm and 7 nights a week too from 4:40 pm to 10 pm. If you buy your pass for next season before April 30th, the cost if just $169.00 plus GST (no PST). Check it out at www.bluemountain.ca

The month of March proved to be strong start to the spring market and potentially a sign of having put the recession fully behind us - at least for now.

Sales in the Georgian Triangle last month reached the highest level on record for any March since 2004 with a total of 200 MLS® sales in all areas serviced by the Georgian Triangle Real Estate Board for all types of properties. Of the 200 sales, about 135 were single family homes and 24 were condominiums. There were also 25 vacant land sales. The number of new listings also climbed sharply with 614 new listings in March; a level not seen since May, 2008.

The 12 month average, residential sale price has returned to 2008 levels in most areas and is now at its highest level ever in some areas. Condominium sales continue to show a sharp rise compared to the previous two years and they have now returned to peak 2007 levels. 65 condos sold in the first quarter of this year with an average sale price of $237,000. These sales occurred across our area in all price ranges and follow the pattern of buyers moving to condominium living being reported in larger urban centres. We've also seen a return of recreational buyers and investors for this type of property. Only Thornbury has been slow to absorb the existing inventory of condominiums in that community.

In Collingwood, the sales-to-listing ratio hit 50% for the first time in years signaling a return to a sellers market; particularly for properties priced under $300,000. There was a resurgence in the higher-end market as well with 16 sales reported over $500,000 with two sales exceeding the $2.3 million dollar mark. Clearly, all signs point to a continued strong spring market.

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board. It covers all areas serviced by the board. The first number is for March 2010 with March 2009 and 2008 results in brackets:

Total Number of Sales in all areas reported: 200 (106, 133)
Total # of new listings in all areas reported: 614 (500, 413)
# Active Listings as of March 31st: 1964

The following data is limited to Collingwood, Clearview, Grey Highlands, Meaford, Blue Mountains and Wasaga Beach areas only and, reports MLS® data for the first quarter of 2010:

a) March only Single Family Residential Sales: 123 (56, 91)
b) First Quarter Totals:

YTD Single Family Residential Sales 240 (134, 248 )
12 mos. Average Sale Price: $311,159 (262,243, 292,140)
Note: Even if sales over $999,999 are removed, the average sale price is still up by about 10% over last year).
YTD Sales-to-Listings Ratio: 29.16% (18%, 36.16%)
YTD Condo Sales: 65 (42, 56)
YTD Farms Sold: 2 (1, 6)
YTD Vacant Land Sold: 32, (16, 32)
YTD Commercial Sold: 8 (9, 10)

Statistics can be helpful but also misleading when not applied to a particular scenario. If you are looking at buying or selling in the Georgian Triangle area, it is important to consult with a REALTOR® to obtain detailed information about the statistics as they apply to your particular interests or needs.

If you are looking for such information in our area, send me an email or give me a call and I'd be happy to provide you with the latest sales data for your neighbourhood and property type.

The features that home buyers look for reflect the changing realities of the world we live in. For example, as the average age of the population rises, so does the demand for one storey homes. With environmental issues reaching our collective consciousness, so does the demand for "green" features increase.

I spent some time this morning reading various reports and studies to find out the trends home builders and renovators might want to pay particular attention to. What I found was not surprising at all. Buyers are placing increased importance on:

Open concept floor plans
One level living
Main floor master bedrooms
Universal design
Energy Efficiency

Recently, the Ontario Association of Home Builders held their meetings here in Collingwood and some of the newer trends they identified were:

- McMansions are being traded for better quality homes
- People want to age-in-place and are looking for homes that are easily adapted for accessibility
- People are expanding their living into the outdoors with a greater demand for 3-season living spaces such as covered patios and porches, sunrooms

They also specifically noted that buyers are demanding greater energy efficiency in their homes and are willing to pay for it to a certain point. Some of the features they are looking at include:

* Homes that are pre-wired to be solar ready
* New products and building techniques that will address the fact that homes built under the new building code in 2012 will be more air tight
* Kill switches to easily turn off appliances using phantom energy
* Home automation systems for multi-media
* A movement away from stucco to things like stone and hardiboard
* Kitchens with walk-in pantries, solid surface countertops, specific task lighting and energy efficient appliances.

If you are buying a new home, it's a good idea to incorporate as many of these elements as possible because they are likely to become the norm when you one day face resale of your property. For people renovating their homes, it's also a good idea to consider these trends both for resale and for efficient and healthy home operation. Remember, the cost of operating your home (heat, hydro, water) are the second price tag of ownership.

Real estate activity in February in Collingwood, Blue Mountain and area continued to show recovery over the picture we saw one year ago.

Sales in the Georgian Triangle in February, 2010 were up 39% compared to the same month last year when we were in the depth of the recession. There were 107 sales of all types reported in our area in February but this was still well below the 139 sales reported in the same month in 2008. The number of new listings for the month declined by 13% over a year ago with 347 new listings in February.

The 12 month average, residential sale price is returning to 2008 levels in most areas and is now higher in Wasaga Beach and Collingwood than it was in 2008. Condominium sales continue to show a sharp rise compared to the previous two years. There have been 43 condos sold in the first two months of 2010 with an average sale price of $228,869 compared to just 22 sales in the same period last year with an average sale price just under $195,000. These sales occurred across our area in all price ranges and follow the pattern of buyers moving to condominium living being reported in larger urban centres.

Despite what we hear in media reports about an over-heated market, you can see by the data below that we have not rebounded fully from the depths of last years recession. We are certainly in a much improved position but, with the exception of condominiums, we have not recovered to 2008 pre-recessionary levels.

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board. The first number is for February 2010 with February 2009 and 2008 results in brackets:

Total Number of Sales in all areas reported: 107 (77, 139)
Total # of new listings in all areas reported: 347 (398, 402)
# Active Listings as of February 28: 1770

The following data is limited to Collingwood, Clearview, Grey Highlands, Meaford, Blue Mountains and Wasaga Beach areas only:

February Single Family Residential Sales: 71 (52, 82 )
YTD Single Family Residential Sales 115 (77, 154)
12 mos. Average Sale Price: $297,657 ($285,069, $315,598 )
YTD Sales-to-Listings Ratio: 28% (18%, 37% )
YTD Condo Sales: 43 (22, 35)
YTD Farms Sold: 2 (1, 4)
YTD Vacant Land Sold: 10 (5, 24)
YTD Commercial Sold: 5 (6, 6)

A number of factors are at play in the market. The number of new listings has stayed low and if this continues, we will see upward pressure on prices. We are hearing more talk of new listings coming online as sellers try to beat the introduction of the HST on July 1st. New mortgage rules that come into effect on April 17th may also cause a minor uptick in buying activity as does the ongoing fear of rising interest rates. Signs would currently point to an expected strong spring market.

I know it will not be a surprise to you to learn that real estate sales in Collingwood, Blue Mountain and area last month presented a far rosier picture than we saw one year ago.

Sales in the Georgian Triangle in January, 2010 were up 56% over the same period last year when we were in the depth of the recession. There were 81 sales reported for January 2010 and 455 new listings representing a decline a just 2% over 12 months ago.

Sales in units have not yet returned to 2008 levels however, the 12 month average sale price continues to climb. Of particular interest is the number of condominium sales last month which showed a sharp rise compared to the previous two years. These sales occurred across our area in all price ranges and follow the pattern of buyers moving to condominium living being reported in larger urban centres.

The following information was obtained from the MLS® statistics provided by the Georgian Triangle Real Estate Board. The first number is for January 2010 with January 2009 and 2008 results in brackets:

Total Number of Sales in all areas reported: 81 (52, 111)
Total # of Listings in all areas reported: 455 (462, 454 )
# Active Listings as of January 31: 1695

Single Family Residential Only
(Data is limited to Collingwood, Clearview, Grey Highlands, Meaford, Blue Mountains and Wasaga Beach areas only):

# Single Family Residential Sales: 44 (25, 69 )
Average Sale Price: $293,377 ($290,483, $312,779 )
Sales-to-Listings Ratio: 20% (12%, 33% )

# Condo Sales: 23, (8, 19 )
# Farms Sold: 0
# Vacant Land Sold: 5
# Commercial Sold: 2

Market conditions are much improved over last year and all bets are on this trend continuing through the traditional spring market months as people act to avoid the HST coming into effect on July 1, 2010.