Welcome to Southern Georgian Bay Carriage Trade Properties
The southern Georgian Bay region is renowned for its natural beauty, the Niagara Escarpment, crystal clear blue water, the world’s longest freshwater beach and unparalleled recreational amenities from boating to private ski clubs and world class golf courses. Long known as the ski capital of Ontario, southern Georgian Bay has been transformed into one of Canada’s premier four season recreational playgrounds offering the coveted lifestyle sought by many luxury home buyers seeking the relaxed sophistication reflected in the ultimate recreational or retirement residence.
Real estate Broker Rick Crouch with Royal LePAGE Locations North Realty represents discriminating buyers and sellers in their quest to buy and sell premium properties around southern Georgian Bay including Collingwood, Wasaga Beach, the Blue Mountains, Grey Highlands and Clearview.
Tuesday, July 14, 2015
MLS® sales for properties priced over $750,000 total 47 units to the end of June compared to 34 sales during the first six months of 2014. As indicated in the accompanying graph, the majority of upper end sales in our area fall within the Blue Mountains. Through the end of June, 32 properties or 68% of sales in our area over $750,000 fall within that municipality. Many affluent buyers for our region are members of the area's private ski clubs and or golf courses and there preference is often to be close to those amenities. Developers have responded to this demand by developing plans of subdivision such as Nipissing Ridge, Windrose Valley, Lora Bay and the Georgian Bay Club that are in close proximity to the likes of Craigleith, Alpine and Osler Bluff Ski Clubs or golf the Lora Bay and Georgian Bay Golf Clubs.
As with other price segments of the market, we have also seen a reduction in amount of available inventory in the upper price ranges. The current level of inventory stands at 127 active listings priced over $750,000 Based on the current rate of sales this represents approximately 16 months of inventory. Once you get over $1 million however the situation is quite different. Of the 127 active listings over $750,000, 104 of those or 82% are priced over $1 million. With year-to-date sales of 21 properties above $1 million the current number of active MLS® listings over $1 million represents almost 30 months of available inventory.
Many of the sales over $1 million have taken two or three years to complete some even longer. Pricing these properties is of paramount importance to attract a willing buyer, taking the "comparable market analysis" approach in most cases just will not work. When listing higher end properties I take a three pronged approach looking at multiple factors to arrive at an appropriate listing price.
If you have an upper end property that you are considering selling, please contact me for a confidential, no obligation consultation as to how my expertise combined with the strong market presence of Royal LePAGE in this segment of our market can serve and benefit you with the sale of your luxury property. In the meantime to learn more, please visit the luxury home page of my personal real estate website.
Monday, June 22, 2015
Wednesday, June 10, 2015
Through the end of May there have been 40 sales reported though the MLS® system of the Southern Georgian Bay Association of REALTORS® above $750,000 compared to 28 sales in the same period last year. The Blue Mountains continues to be the hot bed for luxury upper end home sales with most buyers having a strong preference to be located close to Blue Mountain and the area's private ski clubs. Collingwood, and the Municipalities of Grey Highlands and Meaford are the other three areas where upper end home sales are currently the most prevalent. Sales in the $800,000 to $900,000 range are the most active this year with 12 sales through the end of May representing a 140% increase over the same period last year. Sales between $1 and $1.5 million total 9 properties year-to-date up 80% from the 5 sales in the first 5 months of 2014 while sales between $700,000 and $800,000 are up 50% year-to-date
In my next post I will talk further about the issue of pricing high end properties in order to attract a willing buyer.