Lakelands property sales running at average levels in February 2018

Lakelands property sales running at average levels in February 2018

– down from a very strong February in 2017

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Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 36 units, down 34.5% from February 2017. This was almost exactly in line with the 10-year average for the month of February.

On a year-to-date basis, waterfront sales (72) were down 30.1% from the same period in 2017.

“Sales activity was running at average levels in February, less extreme activity than we saw in early 2017,” said Mike Stahls, President of The Lakelands Association of REALTORS®. “That said, even average levels of demand against the backdrop of a historic lack of inventory is keeping the pressure on prices in the region.”

The median price for waterfront sales was $459,000 in February 2018, rising 8% from February 2017.
The total value of waterfront sales was $20.4 million, falling 24% from the record February in 2017. This drop in dollar value was due to the slowdown in sales.

Summary – Sales
February 2018 February 2017 Year-over-year
percentage change
36 55 -34.5
Includes transactions in all areas recorded by The Lakelands Association of REALTORS®
Summary – Median Price
February 2018 February 2017 Year-over-year
percentage change
$459,000 $425,000 8.0
Includes transactions in all areas recorded by The Lakelands Association of REALTORS®


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Detailed – Waterfront Sales and Median Price by Area
Waterfront
By Area Unit Sales Median Sale Price
February 2018 February 2017 Year-over-year
percentage
change
February 2018 February 2017 Year-over-year
percentage
change
Muskoka 10 16 -37.5 $397,500 $525,000 -24.3
Haliburton 10 10 0.0 $444,500 $284,500 56.2
Orillia 7 9 -22.2 $500,000 $740,000 -32.4
Parry Sound 9 14 -35.7 $535,000 $317,500 68.5
All Other Areas 0 6 -100.0 $0 $466,500 -100.0
Note: A percentage change of — indicates there were no sales in the same month one year ago.

BOARD & ASSOCIATION INFORMATION

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.

This entry was posted on March 29, 2018 by Jim and Iris

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