Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 259 units in August 2019. This was up 7.9% from August 2018.
On a year-to-date basis, waterfront sales totalled 1,143 units over the first eight months of the year, down 3.9% from the same period in 2018.
Wendy Webb, President of The Lakelands Association of REALTORS® said, “after a slow start to our cottage season, due to weather, waterfront sales activity have started to improve. Those sales were back in line with their 10-year average in August. Supply continues to be an issue; however, some areas of our region have made gains in inventory resulting in more sales recorded in those areas.”
The median price for waterfront property sales in August 2019 was $525,000, edging up 1.5% from August 2018.
The total dollar value of all waterfront sales in August 2019 was $209.9 million, up 5.9% from the same month in 2018 and the second highest August level ever.