Sales in May 2018

Sales in May 2018

The Lakelands Association of REALTORS®

Lakelands property sales remain well below last year’s record levels in May 2018

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Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 191 units in May 2018. This decreased by 42.1% from May 2017, which was a record.

On a year-to-date basis, waterfront sales totalled 492 units over the first five months of the year. This was a decrease of 39% from the same period in 2017.

“Activity remained quiet in May,” said Mike Stahls, President of The Lakelands Association of REALTORS®. “Having said that, with supply at historic lows it’s possible we may be looking as much at a supply story as a demand story. That idea is supported by the fact that listings are still selling quickly, and median prices continue to rise.”

The median price for waterfront property sales in May 2018 was $535,500, up 9.4% from May 2017.

The total dollar value of all waterfront sales in May 2018 was $140.7 million, falling 34.2% from the May record in 2017.

Summary – Sales by Housing Type
Category May 2018 May 2017 Year-over-year
percentage change
Non-Waterfront Residential 237 399 -40.6
Waterfront 191 330 -42.1
Includes transactions in all areas recorded by The Lakelands Association of REALTORS®
Summary – Median Price by Housing Type
Category May 2018 May 2017 Year-over-year
percentage change
Non-Waterfront Residential $340,000 $319,900 6.3
Waterfront $535,500 $489,500 9.4
Includes transactions in all areas recorded by The Lakelands Association of REALTORS®


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Detailed – Non-Waterfront Residential Sales and Median Price by Area
Non-Waterfront Residential
By Area Unit Sales Median Sale Price
May 2018 May 2017 Year-over-year
percentage
change
May 2018 May 2017 Year-over-year
percentage
change
Muskoka 81 153 -47.1 $365,000 $330,000 10.6
Haliburton 24 25 -4.0 $231,750 $209,000 10.9
Orillia 76 120 -36.7 $387,500 $390,000 -0.6
Parry Sound 41 86 -52.3 $275,900 $207,750 32.8
All Other Areas 15 15 0.0 $469,900 $302,500 55.3
Note: A percentage change of — indicates there were no sales in the same month one year ago.
Detailed – Waterfront Sales and Median Price by Area
Waterfront
By Area Unit Sales Median Sale Price
May 2018 May 2017 Year-over-year
percentage
change
May 2018 May 2017 Year-over-year
percentage
change
Muskoka 74 111 -33.3 $720,000 $600,000 20.0
Haliburton 40 57 -29.8 $470,500 $510,000 -7.7
Orillia 18 27 -33.3 $560,950 $610,000 -8.0
Parry Sound 44 111 -60.4 $412,500 $390,000 5.8
All Other Areas 15 24 -37.5 $525,000 $465,000 12.9
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 July 8, 2018 by Jim and Iris

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