WATERFRONT SALES SET A NEW RECORD IN JANUARY 2016
Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 89 units in January 2016, dipping 5.3 per cent from January 2015. However this was still the second best January since 2004.
Sales of waterfront properties increased by 12.5 per cent from January 2015 to reach 45 units in January 2016. This was the best January ever.“Mirroring trends we’re seeing across Cottage Country, while all segments of the market are performing well, it’s the cottages that were still being bought at a record-setting pace to begin 2016 following on the heels of 2015’s record annual performance,” said Tom Wilkinson, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “Strong demand has been drawing down on the supply of listings on the market, but while there are fewer listings out there, unlike many other places in Ontario we are not at the moment facing a real shortage of supply, so prospective buyers still have plenty of choice.”The median price for residential non-waterfront property sales was $236,000 in January 2016, up 11.1 per cent from January 2015.
The median price for waterfront sales was $260,800 in January 2016, down 28.3 per cent from January 2015. This is likely just common winter volatility.
The dollar value of all residential non-waterfront sales in January 2016 totalled $21 million, down 1.3 per cent from January 2015. This was the second highest dollar volume of any January on record.
The total value of waterfront sales was $16.6 million, down 25.4 per cent from January last year.