Waterfront Sales Outperform in March
Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 112 units in March 2015. This was a decrease of 13.2 per cent from March 2014 but stood on par with the 10-year average for the month.
Sales of waterfront properties, meanwhile, jumped 50 per cent from a year ago to 69 units in March 2015. This was the best March level in five years and was well above both the five and 10-year averages for the month.
“Continued strong momentum in waterfront property sales in March suggests that it’s very likely going to be a busy spring for the cottage market,” said Mike Stahls, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “Meanwhile, non-waterfront activity was fairly average in March.”
The median price for residential non-waterfront property sales was $230,000 in March 2015, edging up 2.2 per cent from March 2014.
The median price for waterfront sales was $347,000 in March 2015, edging down 0.9 per cent from March 2014.
The dollar value of all residential non-waterfront sales in March 2015 totalled $28.1 million, falling 9.4 per cent on a year-over-year basis.
The total value of waterfront sales was $30.9 million, rising 66.8 per cent from levels in March 2014. This was a record for the month of March and the first time volumes have totalled more than $30 million for this month.