Lakelands Association of REALTORS® MLS® home sales down from 2020 records to more normal levels
Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 326 units in August 2021. This was a substantial decrease of 25.4% from the same period in 2020.
Residential non-waterfront sales were 1.1% above the five-year average and 10.7% above the 10-year average for the month of August.
On a year-to-date basis, residential non-waterfront sales totaled a record 2,629 units over the first eight months of the year. This was a sizable gain of 20% from the same period in 2020.
Sales of waterfront properties numbered 257 units in August 2021. This was a substantial decrease of 28.8% from the same period in 2020.
Waterfront sales were 7.7% below the five-year average and 6.6% below the 10-year average for the month of August.
On a year-to-date basis, waterfront sales totaled a record 1,749 units over the first eight months of the year. This was a moderate gain of 5.1% from the same period in 2020.
"Sales of both waterfront and non-waterfront properties were down from their astronomical highs last year to more average levels for this time of year," said Chuck Murney, President of the Lakelands Association of REALTORS®. "Supply, on the other hand, hasn’t been holding up as well and inventories are trending at rock-bottom levels. With the great surge of activity now in the rearview mirror, price gains are moderating to lower double-digit territory from the increases of more than 40% from several months ago but make no mistake, the market is still firmly in seller’s territory for now."
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI single-family benchmark price was $608,800 in August, up sharply by 38.5% on a year-over-year basis.
The median price for residential non-waterfront property sales in August 2021 was $549,950, increasing by 22.2% from August 2020.
The more comprehensive year-to-date residential non-waterfront median price was $575,000, an advance of 35.3% from the first eight months of 2020.
The median price for waterfront property sales in August 2021 was $802,000, increasing by 18.6% from August 2020.
The more comprehensive year-to-date waterfront median price was $870,000, an advance of 39.3% from the first eight months of 2020.
The total dollar value of all residential non-waterfront sales in August 2021 was $196 million, down sharply by 11.7% from the same month in 2020.
The total dollar value of all waterfront sales in August 2021 was $290 million, a substantial decrease of 14.1% from the same month in 2020.
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.
THE LAKELANDS ASSOCIATION OF REALTORS®
For more information,
- (705) 788-1504 - Ext. 222
- email@example.com Crystal Henderson, CRAE, e-PRO® Executive Officer