LOCATIONS B R O K E R A G E
THE BLUE MOUNTAINS REAL ESTATE MARKET REPORT
FIRST QUARTER 2020 WE’RE GRATEFUL TO HAVE BEEN CHOSEN
ROYAL LEPAGE’S 2016 BROKERAGE OF THE YEAR FOR ONTARIO
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OVERVIEW RECORD Q1 VOLUME, WITH UNITS, PRICES AND NEW LISTINGS UP
RECORD Q1 SALES VOLUME OF $62,243,393 Up 13% from Q1-2019’s $55,186,500, with units of 84 up 11% from Q1-2019’s 76. New listings of 163 up 43% from a year ago, with the sales/listings ratio of 52% down 15%.
MARCH SALES VOLUME OF $15,741,400 Down 5% from March 2019’s $16,583,900. Units of 23 were up 5% from last March’s 22, with new listings of 51 up 31% and the sales/listings ratio of 45% down 11%.
RECORD Q1 AVERAGE SALE PRICE OF $740,933 Up 2% from Q1-2019’s $726,138. Average days-on-market of 69 was up 8 days.
T H E B L U E M O U N TA I N S M A R K E T R E P O R T: F I R S T Q U A R T E R 2 0 2 0
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OVERVIEW (cont’d) THE DEMAND FOR LISTINGS IS CURRENTLY LESS THAN THE SUPPLY In March’s last half there were just 5 sales, the fewest since 2008. However, volume of $6,480,000 was up 32% from 2019, due to the average sale price more than doubling. That said, the average sale time was 8 weeks – up 5 weeks from last year. Given the slow sales and uncertainty, it’s a buyers’ market. Graph 1: The Blue Mts. MLS® Sales Q1 – 2018 vs. 2019 vs. 2020 (Volume) $70,000,000
$62,243,393 $60,000,000
$51,956,637
$55,186,500
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$0
2018
2019
2020
Graph 2: The Blue Mts. MLS® Sales Q1 – 2018 vs. 2019 vs. 2020 (Units) 90
83
80
84 76
70 60 50
40 30 20 10 0
2018
T H E B L U E M O U N TA I N S M A R K E T R E P O R T: F I R S T Q U A R T E R 2 0 2 0
2019
2020
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THE MARKET IN DETAIL Table 1: The Blue Mts. MLS® Residential Sales And Listing Summary Q1 – 2018 vs. 2019 vs. 2020
2018
2019
2020
2019-2020
$51,956,637
$55,186,500
$62,243,393
+13%
83
76
84
+11%
New Listings
146
114
163
+43%
Sales/Listings Ratio
57%
67%
52%
-15%
Expired Listings
34
31
52
+68%
Sales: $100K - $299K
15
13
13
0%
Sales: $300K - $499K
22
16
20
+25%
Sales: $500K - $799K
24
24
20
-7%
Sales: $800K - $999K
13
9
14
+56%
Sales: $1M - $1.499M
6
7
8
+14%
Sales: $1.5M - $1.999M
2
4
8
+100%
Sales: $2M+
1
3
1
-67%
59
61
69
+13%
$625,984
$726,138
$740,933
+2%
Volume Sales Unit Sales
Average Days-On-Market Average Sale Price
NOTE: All MLS® sales data in this report comes from the Southern Georgian Bay Association Of REALTORS® and refers specifically to residential sales.
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THE MARKET IN DETAIL (cont’d) As Graph 3 shows, after a strong January (the second best ever) and a record spike in February, volume fell sharply in March – although it was still The Blue Mts.’ fourth-best March ever. In fact, March’s market was very active until the influence of COVID-19 set in. On the units side, Graph 4 shows a similar pattern, with a big record February followed by a steep drop in March, mainly due to just 5 sales during the month’s last half. On a more positive note, Q1’s average sale price set a new record, up 48%, 32%, 22%, 18% and 2% from the Q1s of 2015-19 respectively.
Graph 3: The Blue Mts. Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Volume) $35,000,000
2018 2019
$30,000,000
2020
$25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Graph 4: The Blue Mts. Monthly MLS® Sales 2018 vs. 2019 vs. 2020 (Units) 50
2018
45
2019
40
2020
35 30 25 20 15 10 5 0
Jan
Feb
Mar
Apr
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May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
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THE MARKET IN DETAIL (cont’d) As Graph 5 shows, Q1-2020 unit sales were up from Q1-2020 in four price ranges, down in two, and even in one. The $300K-$499K, $800K-$999K, $1M-$1.499M and $1.5M-$1.999M ranges were up 25%, 56%, 14% and 100% respectively; the $500K-$799K and $2M+ ranges were down 7% and 67% respectively; and the Under-$300K range was equal. More generally, the Under-$500K bracket was up 14%; the $500K-$999K bracket was up 3%; and the $1M+ bracket was up 21%.
Graph 5: The Blue Mts. MLS® Sales By Price Q1 – 2018 vs. 2019 vs. 2020 (Units) 30
2018 2019
25 24
22
20
15
2020
24
20
20
16
15 13
13
13
2018
14
2019 2020
10 9 6
5
7
8
8 4 2
0
$100K-$299K
$300K-$499K
$500K-$799K
$800K-$999K
$1M-$1.499M
$1.5M-$1.999M
THE BLUE MOUNTAINS MARKET REPORT: FIRST QUARTER 2020
3 1
1 $2M+
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LOCATIONS B R O K E R A G E
SALES BY PROPERTY TYPE Graph 6: The Blue Mts. MLS® Sales By Property Type Q1 – 2018 vs. 2019 vs. 2020 (Dollars and Units)
2020 $17,249,033
2020 IN DETAIL SINGLE-FAMILY HOMES 2020
2020
2020
$4,037,000
$4,037,000 DOLLAR SALES : $17,249,033
$44,994,360 DOWN 2% from 2019
11
41
43
AV. SALE PRICE: $1,046,380 UP 10% from 2019
Single Family
Single Family
Vacant Land
Single Family
Condominium
Condominium
2019 Vacant Land
2019
2019
Vacant Land
CONDOMINIUMS
$5,128,000
$9,562,900
DOLLAR SALES: $17,249,033 UP 80% from 2019 UNIT SALES: 41 UP 46% from 2019
28
$45,623,600
AV. DAYS-ON-MARKET: 51 $45,623,600 DOWN 17 days from 2019
48
Single Family
Single Family
Condominium 2018
Condominium
$12,850,499
$5,128,000
$9,562,900
7
Vacant Land
AV. DAYS-ON-MARKET: 86 UP 29 days from 2019 $44,994,360
$44,994,360
Condominium 2019
UNIT SALES: 43 DOWN 10% from 2019
AV. SALE PRICE: $420,708 Single Family UP 23% from 2019
2018
2018
2018
Condominium
Vacant Land
Vacant Land
$3,982,000 VACANT LAND
$3,982,000
$12,850,499
9
DOLLAR SALES: $4,037,000 DOWN 21% from 2019 38
45
$39,106,138
$39,106,138
AV. DAYS-ON-MARKET: 103 UP 5 days from 2019
Single Family
Single Family
Condominium
Condominium
Single Family
Vacant Land
UNIT SALES: 11 UP 57% from 2019
Condominium
Vacant Land Vacant Land
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Single Family
AV. SALE PRICE: $367,000 Condominium DOWNVacant 50%Land from 2019 www.locationsnorth.com
LOCATIONS B R O K E R A G E
ROYAL LEPAGE LOCATIONS NORTH IN 2019 OUR 7TH STRAIGHT RECORD-BREAKING YEAR! WE BROKE OUR OWN REGIONAL RECORD FOR ANNUAL MLS SALES VOLUME With $316,114,237 – up 10% from 2018 and up nearly 500% from 2011!
WE HAD NEARLY 3 TIMES THE SALES VOLUME OF OUR CLOSEST REGIONAL COMPETITOR WE WERE #1 IN COLLINGWOOD, THE BLUE MTS., MEAFORD, AND CLEARVIEW (as well as GREY HIGHLANDS among SGBAR* brokerages) And #2 in Wasaga Beach after opening an office there in mid-2015.
WE WERE #1 IN THE REGIONAL LUXURY HOME MARKET, WITH 2¼ TIMES THE VOLUME OF OUR CLOSEST COMPETITOR
Locations North Sales Volume, 2011 - 2019 2011 2011 2012 2013 2014 2015
2012
$ $53,047,171
2013
$89,145,175
2014
$96,796,883
2015 2016
$121,934,732
2017
$159,707,227
2016 2017 2018 2019
2018
$215,294,663
2019 $268,894,323 $288,097,462 $316,114,237
*Southern Georgian Bay Association of REALTORS® T H E B L U E M O U N TA I N S M A R K E T R E P O R T: J A N U A R Y 2 0 2 0
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LOCATIONS B R O K E R A G E
* Collingwood, The Blue Mts., Wasaga Beach, Meaford, Clearview, Grey Highlands
2019 UNIT SALES Collingwood
** $1,000,000+
The Blue Mountains Royal LePage Locations North
Royal LePage Locations North
RE/MAX Four Seasons
RE/MAX at Blue
Royal LePage Trinity
RE/MAX Four Seasons
Chestnut Park
Chestnut Park
Century 21 Millenium
Century 21 Millenium
Clairwood
Royal LePage Trinity
Engel & Volkers
Clairwood
RE/MAX of Wasaga Beach
Engel & Volkers
Other
Other
Non-SGBAR
Non-SGBAR
Clearview
Meaford
UNITS
Royal LePage Locations North
Locations North 24.5Royal LePage 16.9%
Century 21 Mil enium
Royal LePage Trinity
18.5
RE/MAX Four Seasons 12.8%
RE/MAX Four Seasons
RE/MAX Four Seasons
17
Chestnut Park 11.7%
Royal LePage Locations North
RLP RCR RE/MAX Grey Bruce
Chestnut Park McIntee RLP Trinity Other Non-SGBAR
Southern Georgian Bay (West)* UNITS
PERCENTAGE
RE/MAX of Wasaga Beach
Royal LePage Trinity 11.4%
RE/MAX of Wasaga Beach
202.75
Royal LePage Trinity
Locations North 153.75 Royal LePage 8.6%
Royal7.1% LePage Trinity
Chestnut Park
10
RE/MAX 6.9% of Wasaga Beach
Century 21 Millenium
5.5
Century 21 Millenium 3.8%
Exit
5.5
Sotheby's 3.8%
Forest Hill
2.5
Engel & Volkers 1.7%
Other
21
Other 14.5%
Non-MLS
Non-SGBAR 30.25 20.9%
Georgian Triangle Luxury Homes** UNITS
PERCENTAGE
of Wasaga Beach Royal LePage Locations North 443.25 RE/MAX 24.9%
10.25
PERCENTAGE
Royal LePage Locations North
44.5
Royal LePage Locations North 33.2%
RE/MAX Four Seasons
18.5
RE/MAX Four Seasons 13.8%
15
Chestnut Park 11.2%
Chestnut Park
RE/MAX Four Seasons
152.25
Century 21 Millenium 8.5%
Century 21 Millenium
137.25
RE/MAX Four Seasons 7.7%
Century 21 Millenium Century 21 Millenium 7.3% * ‘Units’ refers to9.5 the combined number of Listing Selling Engel & Volkers Sides RE/MAX of Wasaga Beach 5 and 3.7%
97.5
Manuel Antunes 5.5%
Engel & Volkers
49
Sutton Group Incentive 2.7%
RE/MAX at Blue
46.5
Engel & Volkers
27
Chestnut Park
Clairwood
Other
** $1,000,000+4.5
Clairwood 3.4%
Sotheby’s
4.5
Sotheby's 3.4%
Col2.6% dwell Banker Ronan
Royal LePage Trinity
3.5
Royal LePage RCR 2.6%
1.5% Other
Clairwood
3
Royal LePage Trinity 2.2%
23
Other 17.2%
Non-SGBAR 473.75 26.6%
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Other
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LOCATIONS B R O K E R A G E
WE GIVE YOU OPTIONS AT LOCATIONS NORTH, WE DO EVERYTHING WE CAN TO PUT YOU FIRST – and that includes respecting your privacy. If we can ever be of help with your real estate needs, please let us know.
COLLINGWOOD 705-445-5520 330 First Street
THE BLUE MOUNTAINS 519-599-2136 27 Arthur Street
MEAFORD 519-538-5755 96 Sykes Street
WASAGA BEACH 705-617-9969 1344 Mosley Sreet, Unit 5
CLEARVIEW 705-881-9005 143 Mill St., Creemore
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