In the following table are statistics for real estate sales on the Manitoulin Island. (The categories are SFR - Single Family Residences, and WF – All Waterfront Properties.)
|
|
SFR Sales – Dec 31st |
WF Sales – Dec 31st |
|
2008 |
57 |
28 |
|
2009 |
67 |
33 |
|
2010 |
75 |
61 |
|
2011 |
68 |
52 |
|
2012 |
92 |
65 |
|
2013 |
72 |
54 |
Note: These statistics are based on sales processed through the Sudbury Real Estate Board. In 2012, another local brokerage joined our board which increased reported sale
numbers.
Summary:
The sales activity in 2012 lead us to believe we were on our way to recovery from 2008. However as the statistics above indicate this trend was not to continue. (A 22% reduction in sales in 2013 of SFR.)
Interest rates remained favourable, but buyer interest for all property types was lower in 2013.
There was a lower percentage of higher end properties selling as well. Sales of SFR over $250,000 was down over %30.
The Sales-to-Listings-Ratio on Manitoulin Island was the lowest of the 19 districts in the Sudbury Real Estate Board. Roughly 1 out 3 new listings sold in 2013.
Our closest large buyer market is Sudbury, and the reduction of world metal prices in 2013 has, I am sure, negatively impacted Island real estate sales.