Waterfront sales running close to average levels in December 2017

Waterfront sales running close to average levels in December 2017

The Lakelands Association of REALTORS®

Sales of waterfront properties recorded through the MLS® system for the Lakelands region (55 units) came in 6.8% below December 2016. This was still the third best level for the month on record, standing on par with the five-year December average and well above the 10-year average for that month.

On an annual basis, waterfront sales (2,017 units) were down 11.5% from 2016 but stood above all other years in history.

“2017 saw a very strong spring market followed by a return to more normal levels of activity over the second half of 2017,” said Mike Stahls, President of The Lakelands Association of REALTORS®. “The result was the second best annual sales figure on record for the region. Even with demand having cooled off since the spring, listings are still in short supply so the balance of supply and demand is still extremely tight. As a result, both waterfront and non-waterfront property types saw overall median price increases of nearly 20% in 2017.”

The median price for waterfront sales was $390,000 in December 2017, down 7.7% from December 2016.

The annual median price for waterfront property sales came in at $475,000 in 2017, rising 18.8% from 2016.

The total value of waterfront sales was $45.6 million, jumping 30.3% from December 2016 to a new record for the month.


BOARD & ASSOCIATION INFORMATION
The area served by the more than 770 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.

Muskoka & Haliburton Association of REALTORS®

THE LAKELANDS ASSOCIATION OF REALTORS®
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For more information,
please contact:
(705) 788-1504

Crystal Henderson, CRAE, e-PRO® Executive Officer
chenderson@thelakelands.ca – Ext. 222

President
Mike Stahls

This entry was posted on February 20, 2018 by Jim and Iris

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