Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 175 units in August 2017. This was down 28.9% from last year’s August record.
On a year-to-date basis, residential non-waterfront sales were still running 1.5% above the first eight months of 2016. This was still a record for the period.
Sales of waterfront properties came in 24.1% below last August’s record. On a year-to-date basis, waterfront sales were down 12.5% from the first eight months of 2016.
Both the waterfront and non-waterfront sales figures for August 2017 stood in between the five and 10-year averages for the month of August.
“Cottage Country home sales have slowed this summer in line with trends seen across the Greater Golden Horseshoe region,” said Mike Stahls, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “That said, all real estate is local and there are some noticeable regional variations under the surface of The Lakelands Association totals. As of August, residential activity in Muskoka and Haliburton was still running at the second highest level ever for the month. In contrast, Orillia’s August sales were lower than forecasted, however prices are remaining stable.”
The median price for residential non-waterfront property sales was $315,000 in August 2017, an increase of 20.7% from August 2016.
The median price for waterfront sales was a record $450,000 in August 2017, edging up 1.1% from August 2016.
The dollar value of all residential non-waterfront sales in August 2017 totalled $55.2 million, falling 22.7% from August 2016.
The total value of waterfront sales was $151.3 million, down 19.1% from August 2016.