Lakelands waterfront sales remain subdued in November

Lakelands waterfront sales remain subdued in November

The Lakelands Association of REALTORS®


Sales of waterfront properties numbered 95 units in November 2018. This was a decrease of 18.8% from November 2017.

On a year-to-date basis, waterfront sales totalled 1,663 units over the first 11 months of the year. This was down 21.7% from the same period in 2017.

“Non-waterfront sales shot up in November, posting the second-best level on record for that month,” said Wendy Webb, President of The Lakelands Association of REALTORS®. “However, the gains on the non-waterfront side were offset by waterfront sales which remain subdued compared to recent years. That said, with the market still very tight by historical standards right across the region, median prices for both waterfront and non-waterfront sales are on track to be up by more than 10% in 2018.”

The median price for waterfront property sales in November 2018 was $420,000, down 4.5% from November 2017. On a year-to-date basis the median price was $520,000, up 11.8% from 2017.

The total dollar value of all waterfront sales in November 2018 was $48.9 million, falling 39.6% from the record for November from 2017.

 


The area served by 800 REALTORS
® who belong to The Lakelands Association of REALTORS® serving Parry Sound, Muskoka, Haliburton and Orillia, is located less than a two-hour drive north of Toronto, in the heart of Canada’s Cottage Country. There are several major geographical areas within the Association’s boundaries, including the City of Orillia, the Parry Sound area, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, Lake of Bays and Haliburton. Each of these areas has a unique blend of properties ranging from residential homes in the City of Orillia and smaller towns to the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes throughout our regions that range from the smaller entry-level properties to the prestigious.BOARD & ASSOCIATION INFORMATION

 

 

 

 

 

 

This entry was posted on December 18, 2018 by lesley

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