Increased MLS® activity helps Southern Georgian Bay post higher numbers in September

Total MLS® activity was up in September 2008 in the region served by the Southern Georgian Bay Real Estate Association, according to statistics released by the Association.

Real estate transactions recorded through the Association's MLS® system in September 2008 had a total value of $28,813,566. That's a 23 per cent increase from August 2008 and 16 per cent higher than the total released in September 2007.

In all, 111 real estate transactions were recorded through the Association's MLS® system this September. That's a 14 per cent increase from the total posted in August, and a four per cent drop from September 2007.

"It seems that with summer ending, the sales in our region took a turn for the better," said Association President Stephen Jupp. "Yet again we saw an increase in average residential price as well as total MLS® sales - which posted an increase of close to 25 per cent over last months increase."

The total value of home sales recorded through the Southern Georgian Bay Real Estate Association's MLS® system this September was $25,882,666 - an 18 per cent increase from the August total and 19 per cent more than that of September 2007.

There were 99 individual residential transactions recorded through the Association's MLS® system this September - which is 16 per cent more than the 85 transactions reported in August 2008 and is even with the amount from last September.

The average price of homes sold through the Association's MLS® system in September 2008 was $261,441. That's two per cent above the September 2008 average, and 19 per cent more than the September 2007 average. The Association cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.

The CREA forecast notes that MLS® average price increases will be smaller this year. In Ontario, the CREA forecast says 206,850 residential units will be sold through the MLS® systems of Boards and Associations in Ontario in 2008, a 2.5 per cent decline from 2007. The average MLS® residential price in Ontario is expected to increase 4.5 per cent in 2008, to $308,700.

There were 190 new residential listings added to the Association's MLS® system this September - four per cent more than in August 2008. As the month came to an end, there were 938 active residential listings on the Association's MLS® system.

The Southern Georgian Bay Real Estate Association is an Association of REALTORS® covering the Towns of Midland and Penetanguishene, the surrounding communities of Elmvale, Port McNicoll, Victoria Harbour, Coldwater, Port Severn, Honey Harbour and Tiny, Tay, Springwater, Oro-Medonte, Severn and Georgian Bay Townships. These communities are located in the heart of Central Ontario on the southern shores of Georgian Bay and form the gateway to the 30,000 Islands. The area is just 90 minutes north of Toronto. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with the Southern Georgian Bay Real Estate Association. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor the Southern Georgian Bay Real Estate Association assumes any responsibility or liability. Copyright© 2008 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.