The Lakelands Association of REALTORS®
Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered just 18 units in December 2018. This was a large decline of 64.7% from December 2017. While December is always a quiet month for waterfront sales, this was a particularly low sales figure.
On an annual basis, waterfront sales totalled 1,682 units in 2018, down 22.7% from the same period in 2017.
“Non-waterfront sales continued to outperform the more expensive waterfront segment in December, which was a main theme of 2018 under the new mortgage stress test,” said Wendy Webb, President of The Lakelands Association of REALTORS®. “Despite fewer sales across the region in 2018 compared to recent years, the market is still tight by historical standards, which is why prices continue to push higher.”
The median price for waterfront property sales in December 2018 was a record $625,000, jumping 38.9% from December 2017.
The total dollar value of all waterfront sales in December 2018 was $13.4 million, declining 70.6% from the record for December from 2017.
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.