Lakelands residential non-waterfront and waterfront home sales both post solid December to end 2019
Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region numbered 114 units in December 2019. This was an increase of 10.7% (11 sales) from December 2018.
On an annual basis, residential non-waterfront sales totalled 2,577 units over the course of 2019, up 9.8% from the same period in 2018.
Sales of waterfront properties numbered 51 units in December 2019. This was more than double the level from a year earlier, rising 183.3% from a very weak December in 2018.
On an annual basis, waterfront sales totalled 1,680 units over the course of 2019, edging up just 0.1% (one sale) from the same period in 2018.
“While both non-waterfront and waterfront sales saw equally solid Decembers to close out the year, it was the non-waterfront segment that performed better over most of 2019,” said Catharine Inniss, President of The Lakelands Association of REALTORS®. “The pickup in sales to end the year has started to drag down overall supply heading into 2020, so we’re likely looking at yet another year of tight market conditions.”
The median price for residential non-waterfront property sales in December 2019 was $335,000, down 6.2% from December 2018. The more comprehensive annual median price for 2019 was $365,000, up 7.8% from all of 2018.
The median price for waterfront property sales in December 2019 was $500,010, falling 20% from December 2018. The annual median price for 2019 was $540,000, rising 3.6% from 2018.
The total dollar value of all residential non-waterfront sales in December 2019 was $42.6 million, rising 14.1% from the same month in 2018. This was a new record for the month of December.
The total dollar value of all waterfront sales in December 2019 was $30.8 million, up 129.7% from a low reading in that month in 2018.
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