More Balanced Real Estate Market in First 6 Months of 2018

Collingwood Realtor Marg Scheben-Edey Sees a More Balanced Market in 2018

The long time Collingwood and area Real Estate Broker and Team Leader says she feels the Collingwood and area real estate market is returning to more balanced conditions when compared to activity over the previous two years.

Scheben-Edey says there were fewer new listings so far this year when compared to one year ago, however the “inventory” of homes for sale is up across the board. The exception to this trend is in the condo market at Blue Mountain. Marg says this is due to fewer properties being sold and remaining properties staying on the market for longer.

“Sale prices are relatively unchanged from a year ago with variations in different areas. In town subdivision style homes have suffered some price declines which I believe are directly related to the new mortgage stress test rules.”

Marg says there were 59 fewer sales of single-family homes in June 2018 compared to one year ago, representing a drop of 31%.

“Year-to-date, there have been 272 fewer single-family homes trade hands than at this point last year; a drop of 26.8%. Eleven fewer condos were sold in June of this year compared to June 2017. This represents a drop of 2.4%.”

She says 67 fewer condos were sold in the first half of 2018, representing a drop of 24% when compared to last year’s numbers from the same time period.

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