March 2013

TheHomeHunt

with Bruce Johnson

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MARCH 2013

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T E K MAR T R O REP •C Wasaga Beach

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in•Tiny a t n u o M e u l B ood•

Beaches

BRUCE’S MARKET INFORMATION

Bruce’s Market Notes: The average sale price for residential listings in the Georgian Triangle for last month was $315,986 compared with $302,818 for the same period 12 months ago.

There were 126 residential sales compared to 124 sales 12 months ago. The majority of home sales continues to be below $300,000.

Residential Listings for March 0

8

16

24

32

40

14

Clearview

19

Collingwood Blue Mtn Tiny Beaches

17

12

1 2

30 29

Wasaga Beach

2013

2012

37 37

Residential Sales for March 0 Clearview

20 23

40

Blue Mtn

Wasaga Beach

33 9 11

60

80

62 64 42

Bruce Johnson 2013.

2013

100

42

Collingwood

Tiny Beaches All data provided by the Georgian Triangle Real Estate Board. Graphs copyrighted by

2

PAGE

2012

128 145

Housing Market Indicators This Month Same Month Difference Last Year in # of units

% of Change

Remarks

Total Sales

167

172

-5

-2.9%

Less sales than 12 months ago

New Listings

587

618

-31

-5.0%

Less listings than 12 months ago

Active Listings

2032

2235

-203

-9.1%

Less active listings than 12 months ago

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

BRUCE’S MARKET INFORMATION

3

PAGE

March Sales By Price: 2013 & 2012 Under 100,000

8

10 12

100,000 - 149,999

20 22

150,000 - 199,999

33 38 39

200,000 - 249,999 250,000 - 299,999

28

21 17

300,000 - 349,999 350,000 - 399,999 400,000 - 499,999

8 8

6 6

500,000 - 599,999 600,000 - 699,999

2

700,000 - 799,999

0

800,000 - 899,999

0 0

900,000 - 999,999

19

16

11

5

2 2 1 2 2

1,000,000 - 1,499,999 1,500,000 +

0 0

1

TheHomeHunt.com 8

16

2013 Month

24

32

2012 Month

This char t bre aks down tota l proper ty sa for the month les into price ran ges so that th most popular e (highest sellin g) price rang can quickly b es e determined .

Proper ties in the $200,000 to $250,000 price range p roduced the h ighest sales volume. The m ix between sa les of higherpriced versus lower-priced proper ties dir affects the av ectly erage monthly selling price.

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

40

BRUCE’S MARKET INFORMATION

4

PAGE

Average Monthly Residential Sale Price $400,000

$350,000

$300,000

$250,000

$200,000

TheHomeHunt

Jan

Feb

2013

Mar

Apr

May

2012

Jun

Jul

2011

Aug

Sep

Oct

Nov

2010

Dec

2009

Average Annual Residential Sale Price $320,730 $324,355 $315,105 $273,263 $261,557 $289,592 $270,177

$0

2012

$100,000

2011

2010

$200,000

2009

$300,000

2008

2007

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

2006

BRUCE’S MARKET INFORMATION

5

PAGE

Monthly Total Sales Volume $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0

TheHomeHunt Jan

Feb

Mar

2013

Apr

May

Jun

2012

Jul

Aug

2011

Sep

Oct

Nov

2010

Dec

2009

Sales to Listing Ratio 60 50 40 30 20 10 0

TheHomeHunt Jan

Feb

2013

Mar

Apr

May

2012

Jun

Jul

2011

Aug

Sep

Oct

Nov

2010

Dec

2009

*Sales to Listing Ratio is calculated by dividing number of sales by number of listings and it lets us see what percentage of listings on the market are selling. Generally a sales-to-listing ratio of over 55% suggests a Seller’s Market and below 45% is thought of as a Buyer’s Market. A balanced real estate market is between 45% and 55%.

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

BRUCE’S MARKET INFORMATION Active Listings

6

PAGE

Total Sales - monthly

7%

4%

7%1%

21% 12%

33% 5%

14% 13%

62%

21%

Single-Family Home Residential - Other Vacant Land

Single Family Home - Other Farm Other (I.C. & I.) TheHomeHunt

What’s My Home Worth?

Click HERE to see an example of my FREE Market Evaluation for your home or visit www.TheHomeHunt.com

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

BRUCE’S MARKET INFORMATION

7

PAGE

Average Sale Price: March 2013 /2012 $600,000

TheHomeHunt

$525,000

$492,141

$450,000

$361,000 $293,321

$375,000

$283,873 $300,000 $265,159

$517,950

$225,000 $304,184 $238,600

$150,000

$189,580

Clearview

$265,524

$75,000

Collingwood Blue Mtn

$0

Tiny Beaches Wasaga Beach

2013 month

2012 month

*Average Sale Price refers to all residential property sales for the month indicated compared with the same month one year earlier.

The Home Hunt: 1263 Mosley Street, Wasaga Beach, ON L9Z 1A5 | 705-429-4500 x226 “A Moving Experience”

BRUCE’S MARKET INFORMATION

8

PAGE

Absorption Rate for March # of All Active Listings

2032

# of All Solds Last Month

167

# of Months per Year

12

# of Solds x 12 Months

2004

Divide 12-month figure by 52 weeks

38.5

Active Listings divided by weekly units

Absorption Rate = (Last month =

53

53 weeks 64 weeks)

The Absorption Rate is the rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month.

The figure shows how many months it will take to exhaust the supply of homes on the market. Generally, any amount over 26 weeks is a buyer’s market and under 26 weeks is a seller’s market.

Sellers should pay close attention to the absorption rate because it demonstrates how long it might take to sell their property. If the rate is low, it could indicate a seller’s market, allowing them to price their home at the higher end of their suggested range. Conversely, if the rate is high, the seller will need to price at the lower end of the range (or even below the range) to realize a sale in a shorter period.

Buyers should monitor the absorption rate because if the market is heading into a time of low inventory (low rate), underbidding could be futile as they may find themselves in multiple offer situations. Conversely, if the absorption rate is high, chances are the buyer will have time to successfully offer a lower price without fear of competing offers.

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TheHomeHunt Market Report is copyrighted by Bruce Johnson 2013.

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