The number of home sales in the area appear to be plateauing slightly, but continue to rise in price according to the latest stats from the area realtors association.
Any decrease, however, is relative. Though there were fewer homes sold in the region in February 2022 compared to February 2021, overall sales activity in the district made last month the best February on record, according to Chuck Murney, president of the Lakelands Association of Realtors.
“Non-waterfront and waterfront properties both posted solid figures. Surprisingly it was the waterfront segment of the market that was more resilient between the two compared to last year,” said Murney in a news release from the association.
“Prices for both property types remain at record highs while the time spend on market for sold listings remains near record lows. With overall inventories also trending at record lows amid strong demand for homes in the Lakelands region, it’s no wonder that we’re seeing those trends play out.”
The Lakelands region includes three districts. In the west is The Blue Mountains, Clearview, Collingwood, Grey 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 whole Lakelands district, 408 non-waterfront units and 76 waterfront properties sold in February 2022. Sales totalled $408.9 million for non-waterfront properties (up 15.5 per cent compared to February 2021), and $104 million for waterfront properties (down 10 per cent from the same month in 2021).
The median price for a non-waterfront home in Lakelands Central last month was $855,000, up by 28 per cent from $665,000 in February 2021.
The median price for a waterfront home in the same part of the region last month was $1.26 million, up by 14 per cent compared to last year.
In the north, the median price for a home sold in February 2021 was $705,500, and that bumped to $1.18 million for a waterfront home. Those are up from $599,900 and $830,000 respectively in February 2021.
Lakelands West has the highest median prices for both waterfront and non-waterfront properties, but the gap in price between the central and west regions is closing.
In the western portion 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 price for a home in the western side of the region is $970,000 for non-waterfront (up nearly 40 per cent from last year) and $1.27 million for waterfront homes (about even with last year).
For more from the Lakelands Association of Realtors on the February 2022 home sales stats for the region, visit their website here.
