Lakelands home sales post solid gains in February
Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region numbered 151 units in February 2020. This was an increase of 19.8% from February 2019.
On a year-to-date basis, residential non-waterfront sales totalled 298 units over the first two months of the year, up 26.3% from the same period in 2019.
Sales of waterfront properties numbered 43 units in February 2020, jumping 38.7% (12 sales) from February 2019.
On a year-to-date basis, waterfront sales totalled 80 units over the first two months of the year, a 21.2% (14 sales) increase from the same period in 2019.
“Both the non-waterfront and waterfront property segments saw very solid year-over-year increases in February, likely resulting from more new supply coming onto the market compared to a year ago,” said Catharine Inniss, President of The Lakelands Association of REALTORS®. “Even so, the decline in overall inventory continues, so the market is once again tightening heading into the spring. We’ll be watching the data closely to see how the coronavirus situation impacts these trends in March.”
The median price for residential non-waterfront property sales in February 2020 was $385,000, up 4.5% from February 2019.
The median price for waterfront property sales in February 2020 was $500,000, unchanged from February 2019.
The total dollar value of all residential non-waterfront sales in February 2020 was $62.5 million, up 31.4% from the same month in 2019 and a new record for the month of February.
The total dollar value of all waterfront sales in February 2020 was $28.4 million, rising 33% from the same month in 2019.
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