Across the Lakelands District, 408 non-waterfront units and 76 waterfront properties sold last month
The number of home sales in the area appears to be stabilizing slightly, but prices continue to rise according to the latest statistics from the region’s association of real estate agents.
However, any decrease is relative. Although there were fewer homes sold in the area in February 2022 compared to February 2021, overall sales activity in the district made last month the best February on record, according to President Chuck Murney. of the Lakelands Association of Realtors.
“Non-waterfront and waterfront properties both posted strong numbers. Surprisingly, it was the waterfront segment of the market that was the most resilient between the two compared to last year,” Murney said in a press release from the association.
“Prices for both property types remain at record highs while time on market for sold listings remains near record lows. While overall inventories are also trending to record highs amid strong demand for homes in the Lakelands region, it’s no wonder we’re seeing these trends come to fruition.
The Lakelands region comprises three districts. To the west are the Blue Mountains, Clearview, Collingwood, Gray Highlands, Meaford and Wasaga Beach.
The central part of the region includes Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Springwater, Tay and Tiny.
In the North, the Realtor’s Association covers Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound and Severn.
Across the Lakelands District, 408 non-waterfront units and 76 waterfront properties were sold in February 2022. Sales totaled $408.9 million for non-waterfront properties (up 15.5% from February 2021 ) and $104 million for waterfront properties (down 10%). cent compared to the same month in 2021).
Last month, the median price of a non-waterfront home in Lakelands Central was $855,000, up 28% from $665,000 in February 2021.
Last month, the median price of a waterfront home in the same part of the region was $1.26 million, up 14% from a year ago.
In the north, the median price for a home sold in February 2021 was $705,500, and that jumped to $1.18 million for a waterfront home. These are up from $599,900 and $830,000 respectively in February 2021.
Lakelands West has the highest median prices for waterfront and non-waterfront properties, but the price gap between the central and western regions is narrowing.
In the western part of the region, including Collingwood, there were 156 non-waterfront homes and six waterfront homes sold in February 2022, compared to 188 and 10 in the same month last year.
The median home price in the West Region is $970,000 for non-waterfront homes (up nearly 40% from last year) and $1.27 million for waterfront homes (about equal to last year).
To learn more about the Lakelands Association of Realtors’ February 2022 home sales statistics for the area, visit their website. here.