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Oliver Reprich

Oliver Reprich Muskoka REALTOR

Waterfront and residential non-waterfront sales running at average levels in October 2017

Waterfront and residential non-waterfront sales running at average levels in October 2017

Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 160 units in October 2017. This was down 16.2% from last October’s 14-year high for the month.

On a year-to-date basis, residential non-waterfront sales were running just 1.9% below the first 10 months of 2016 but remained above all other years on record.

Sales of waterfront properties came in 11.3% below last October. On a year-to-date basis, waterfront sales were down 14.2% from the first 10 months of 2016.

Both the waterfront and non-waterfront sales figures for October 2017 stood in between the five and 10-year averages for the month of October.

Days on the Market

"Sales are now back at more average levels compared to the record and near-record levels that prevailed right up until this spring," said Mike Stahls, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. "Sales activity is starting to recover from a quiet summer in many Greater Golden Horseshoe markets, suggesting buyers are beginning to come back off the sidelines. Activity in the final months of the year might also get a boost from buyers advancing purchases in advance of tougher mortgage qualification rules which come into force in the New Year."

The median price for residential non-waterfront property sales was a record $339,450 in October 2017, an increase of 35.8% from October 2016.

The median price for waterfront sales was $478,000 in October 2017, rising 12.5% from October 2016.

The dollar value of all residential non-waterfront sales in October 2017 totaled $55.9 million, rising 9% from October 2016. This was the highest October level on record.

The total value of waterfront sales was $95.4 million, down 5.6% from October 2016.

Summary – Sales by Housing Type
CategoryOctober 2017October 2016Year-over-year 
percentage change
Non-Waterfront Residential160191-16.2
Waterfront125141-11.3
Includes transactions in all areas recorded by Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®

 

Summary – Median Price by Housing Type
CategoryOctober 2017October 2016Year-over-year 
percentage change
Non-Waterfront Residential$339,450$250,00035.8
Waterfront$478,000$425,00012.5
Includes transactions in all areas recorded by Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®

 

Detailed – Non-Waterfront Residential Sales and Median Price by Area
Non-Waterfront Residential
By AreaUnit SalesMedian Sale Price
October 2017October 2016Year-over-year 
percentage
change
October 2017October 2016Year-over-year 
percentage
change
Muskoka78108-27.8$309,950$231,50033.9
Haliburton713-46.2$289,000$210,00037.6
Orillia736217.7$390,000$283,25037.7
All Other Areas28-75.0$339,000$377,000-10.1
Note: A percentage change of -- indicates there were no sales in the same month one year ago.
Detailed – Waterfront Sales and Median Price by Area
Waterfront
By AreaUnit SalesMedian Sale Price
October 2017October 2016Year-over-year 
percentage
change
October 2017October 2016Year-over-year 
percentage
change
Muskoka8187-6.9$480,000$535,000-10.3
Haliburton3438-10.5$405,750$373,5008.6
Orillia1014-28.6$639,950$440,00045.4
All Other Areas02-100.0$0$324,250-100.0
Note: A percentage change of -- indicates there were no sales in the same month one year ago.

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®


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