As per my prior post, upper end home sales across southern Georgian Bay have remained very robust throughout 2014.  To the end of October, MLS® sales for homes and condominiums priced above $750,000 total 66 units to the end of October compared to 47 in the first ten months of 2013 an increase of 40%.

  The bulk of these upper end MLS® sales (63 units) reside in the municipalities of Clearview, Collingwood, Grey Highlands, Municipality of Meaford, the Blue Mountains and Wasaga Beach.  Approximately 38% of these sales are in the Blue Mountains driven by Buyer’s desires to be close to the private ski and golf clubs they belong to.

  Inventory of upper end homes remains relatively high.  As of this posting there are 179 active MLS® listings priced above $750,000 which represents about 27 months of inventory.  Over $1 million there are now 98 active MLS® listings.  This is the first time the number of MLS® listings over $1 million has dropped below 100 properties in quite some time.  With 27 MLS® sales year-to-date to the end of October, there remains a three year inventory of MLS® listed properties over $1 million.

  As with other price ranges, correctly pricing an upper end home correctly to attract a Buyer(s) is very important perhaps even more so.  Upper end Buyers are very savvy.  Many have built their own homes in the past.  They know what they want and they know the costs associated with building.  If they don’t see both the quality and value in the property listed for sale then securing a Buyer at the price being asked is highly unlikely if at all.

  If you have an upper end property you are thinking of selling or if you are in the market to purchase one, please visit the luxury home page of my personal real estate website to see how my experience in this segment of the market can benefit you.