Lakelands MLS® Statistical Report – April 2023

Lakelands Association of REALTORS® MLS® home sales showing signs of life but still restrained by lack of new supply
Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 442 units in April 2023. This was down sharply by 17.5% from the same period in 2022.
Residential non-waterfront sales were 11.2% below the five-year average and 18% below the 10-year average for the month of April.
On a year-to-date basis, residential non-waterfront sales totaled 1,270 units over the first four months of the year. This was a substantial decline of 30.5% from the same period in 2022.
Sales of waterfront properties numbered 84 units in April 2023. This was down sharply by 20% from the same period in 2022.
Waterfront sales were 30% below the five-year average and 36.5% below the 10-year average for the month of April.
On a year-to-date basis, waterfront sales totaled 218 units over the first four months of the year. This was a substantial decline of 32.9% from the same period in 2022.
“Sales activity has stabilized at higher levels compared to the bottom reached in the middle of 2022 but we are still waiting on the next phase of growth and recovery,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®. “New supply is not only remaining at subdued levels but is actually declining on a month-over-month basis looking through the seasonality. As a result, sales are being crimped by a lack of new listings coming onto the market and this has caused overall inventories to stall and begin to decline again. The market is continuing to tighten and prices for both waterfront and non-waterfront properties are rising steadily; in the absence of a considerable influx of new supply we expect these trends to persist and strengthen.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $685,000 in April 2023, down sharply by 16.5% compared to April 2022.
The benchmark price for single-family homes was $708,800, a substantial decrease of 17% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $567,600, a big reduction of 12% compared to a year earlier, while the benchmark apartment price was $475,100, falling by 8.5% from year-ago levels.
The median price for residential non-waterfront property sales in April 2023 was $700,000, a moderate decrease of 6.7% from April 2022.
The more comprehensive year-to-date residential non-waterfront median price was $679,000, a substantial decline of 15.1% from the first four months of 2022.
The median price for waterfront property sales in April 2023 was $973,500, a large decline of 19.2% from April 2022.
The more comprehensive year-to-date waterfront median price was $932,500, a substantial decline of 21.6% from the first four months of 2022.
The total dollar value of all residential non-waterfront sales in April 2023 was $342 million, a sharp decrease of 26.1% from the same month in 2022.
The total dollar value of all waterfront sales in April 2023 was $117.2 million, down sharply by 34.5% from the same month in 2022.

 

Sales (all areas) April
2023
April
2022
Year-over-year
% change
Non-Waterfront Residential 442 536 -17.5
Waterfront 84 105 -20.0

 

Median price (all areas) April
2023
April
2022
Year-over-year
% change
Non-Waterfront Residential $700,000 $750,000 -6.7
Waterfront $973,500 $1,205,000 -19.2

 

Non-Waterfront Residential Sales April
2023
April
2022
Year-over-year
% change
Lakelands West 157 195 -19.5
Lakelands Central 187 195 -4.1
Lakelands North 98 146 -32.9

 

Non-Waterfront Residential Median Price April
2023
April
2022
Year-over-year
% change
Lakelands West $735,000 $855,000 -14.0
Lakelands Central $715,000 $705,000 1.4
Lakelands North $602,500 $713,750 -15.6

 

Waterfront Residential Sales April
2023
April
2022
Year-over-year
% change
Lakelands West 8 17 -52.9
Lakelands Central 20 22 -9.1
Lakelands North 56 66 -15.2

 

Waterfront Residential Median Price April
2023
April
2022
Year-over-year
% change
Lakelands West $779,500 $1,250,000 -37.6
Lakelands Central $1,100,000 $1,225,000 -10.2
Lakelands North $960,000 $1,150,000 -16.5
Lakelands West: The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, Wasaga Beach
Lakelands Central: Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Springwater, Tay, Tiny
Lakelands North: Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound, Severn

 

The Lakelands Association of REALTORS® represents more than 1,600 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as the Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

Provided by:

Matthew Lidbetter, President
The Lakelands Association of REALTORS®
mlidbetter@sothebysrealty.ca

News Release March Statistics 2023

Lakelands Association of REALTORS® MLS® home sales remain subdued; with listing inventory below
average.

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 370 units in March 2023. This was down sharply by 36.4% from the same period in 2022.

Residential non-waterfront sales were 29.5% below the five-year average and 25.9% below the 10-year average for the month of March.

On a year-to-date basis, residential non-waterfront sales totaled 827 units over the first three months of the year. This was a substantial decline of 36% from the same period in 2022.

Sales of waterfront properties numbered 73 units in March 2023. This was down sharply by 19.8% from the same period in 2022.

Waterfront sales were 27.3% below the five-year average and 22.8% below the 10-year average for the month of March.

On a year-to-date basis, waterfront sales totaled 134 units over the first three months of the year. This was a substantial decline of 39.1% from the same period in 2022.

“March posted another month of below-average sales activity for waterfront and non-waterfront properties, although you can’t buy what isn’t there and we’re still not seeing any meaningful return of new listings to the market,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®. “Sellers may still be withholding their listings in response to market uncertainty or they may simply be waiting until after the Easter break to kick off the spring season. Prices have stabilized in general, and in the waterfront segment we are actually starting to see a definitive upward trend emerge.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $673,400 in March 2023, a substantial decrease of 18.9% compared to March 2022.

The benchmark price for single-family homes was $695,000, a big reduction of 19.7% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $573,500, a substantial decline of 10.7% compared to a year earlier, while the benchmark apartment price was $476,100, a decline of 7.6% from year-ago levels.

The median price for residential non-waterfront property sales in March 2023 was $648,500, a large decline of 18.9% from March 2022.

The more comprehensive year-to-date residential non-waterfront median price was $665,000, a substantial decline of 19.4% from the first three months of 2022.

The median price for waterfront property sales in March 2023 was $900,000, a large decline of 23.4% from March 2022.

The more comprehensive year-to-date waterfront median price was $894,450, a substantial decline of 23.9% from the first three months of 2022.

The total dollar value of all residential non-waterfront sales in March 2023 was $280 million, a sharp decrease of 47.4% from the same month in 2022.

The total dollar value of all waterfront sales in March 2023 was $88 million, down sharply by 25.9% from the same month in 2022.

 

 

Sales (all areas)

 

March 2023

 

March 2022

Year-over-year

% change

Non-Waterfront Residential 370 582 -36.4
Waterfront 73 91 -19.8

 

 

Median price (all areas)

 

March 2023

 

March 2022

Year-over-year

% change

Non-Waterfront Residential $648,500 $800,000 -18.9
Waterfront $900,000 $1,175,000 -23.4

 

 

Non-Waterfront Residential Sales

 

March 2023

 

March 2022

Year-over-year

% change

Lakelands West 124 207 -40.1
Lakelands Central 180 242 -25.6
Lakelands North 66 133 -50.4

 

Non-Waterfront Residential Median Price  

March 2023

 

March 2022

Year-over-year

% change

Lakelands West $675,750 $855,000 -21.0
Lakelands Central $635,650 $800,000 -20.5
Lakelands North $601,850 $660,000 -8.8

 

 

Waterfront Residential Sales

 

March 2023

 

March 2022

Year-over-year

% change

Lakelands West 7 8 -12.5
Lakelands Central 21 15 40.0
Lakelands North 45 68 -33.8

 

 

Waterfront Residential Median Pric

 

March 2023

 

March 2022

Year-over-year

% change

Lakelands West $900,000 $1,232,000 -26.9
Lakelands Central $889,000 $1,200,000 -25.9
Lakelands North $970,000 $1,150,000 -15.7

Lakelands West: The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, Wasaga Beach Lakelands Central: Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Severn, Springwater, Tay, Tiny Lakelands North: Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound

 

The Lakelands Association of REALTORS® represents more than 1,600 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as the Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

Provided by:

Matthew Lidbetter, President

The Lakelands Association of REALTORS® mlidbetter@sothebysrealty.ca

 

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

News Release February Statistics 2023

Lakelands Association of REALTORS® MLS® waterfront and non-waterfront home

sales run below average levels in February

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 252 units in February 2023. This was down sharply by 39.1% from the same period in 2022.
Residential non-waterfront sales were 32.8% below the five-year average and 28.7% below the 10-year average for the month of February.
On a year-to-date basis, residential non-waterfront sales totaled 456 units over the first two months of the year. This was a substantial decline of 35.8% from the same period in 2022.
Sales of waterfront properties numbered 29 units in February 2023. This was down sharply by 62.8% from the same period in 2022.
Waterfront sales were 51% below the five-year average and 44.3% below the 10-year average for the month of February.
On a year-to-date basis, waterfront sales totaled 62 units over the first two months of the year. This was a substantial decline of 51.9% from the same period in 2022.
“Sales activity for both waterfront and non-waterfront properties is still coming in below typical levels for this time of year, and it may not be until the spring finally arrives that we begin to see any shifts in the market,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®. “There is a divergence in supply coming onto the market between the two property types at the moment, with new listings still very low for non-waterfront properties but having somewhat rebounded for waterfront homes. Overall inventories are still low by historical standards for both property types so there’s ample room to absorb any increases.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $669,200 in February 2023, down sharply by 17.4% compared to February 2022.
The benchmark price for single-family homes was $687,800, a substantial decrease of 18.7% on a year- over-year basis in February. By comparison, the benchmark price for townhouse/row units was $601,900, a small reduction of 1.5% compared to a year earlier, while the benchmark apartment price was $486,000, falling by 1.4% from year-ago levels.
The median price for residential non-waterfront property sales in February 2023 was $695,000, a large decline of 18.7% from February 2022.
The more comprehensive year-to-date residential non-waterfront median price was $685,000, a substantial decline of 18.5% from the first two months of 2022.
The median price for waterfront property sales in February 2023 was $800,000, a big decline of 34.3% from February 2022.

 

The more comprehensive year-to-date waterfront median price was $874,950, a substantial decline of 23.9% from the first two months of 2022.

The total dollar value of all residential non-waterfront sales in February 2023 was $196.8 million, a sharp decrease of 52.2% from the same month in 2022.

The total dollar value of all waterfront sales in February 2023 was $29.3 million, down sharply by 72.8% from the same month in 2022.

 

 

Sales (all areas)

February 2023 February 2022 Year-over-year

% change

Non-Waterfront Residential 252 414 -39.1
Waterfront 29 78 -62.8

 

 

Median price (all areas)

February 2023 February 2022 Year-over-year

% change

Non-Waterfront Residential $695,000 $855,000 -18.7
Waterfront $800,000 $1,218,104 -34.3

 

 

Non-Waterfront Residential Sales

February 2023 February 2022 Year-over-year

% change

Lakelands West 96 154 -37.7
Lakelands Central 107 185 -42.2
Lakelands North 49 75 -34.7

 

Non-Waterfront Residential Median Price February 2023 February 2022 Year-over-year

% change

Lakelands West $762,500 $962,500 -20.8
Lakelands Central $670,000 $861,187 -22.2
Lakelands North $606,875 $675,000 -10.1

 

 

Waterfront Residential Sales

February 2023 February 2022 Year-over-year

% change

Lakelands West 5 6 -16.7
Lakelands Central 4 18 -77.8
Lakelands North 20 54 -63.0

 

 

Waterfront Residential Median Price

February 2023 February 2022 Year-over-year

% change

Lakelands West $769,500 $1,277,750 -39.8
Lakelands Central $1,498,250 $1,128,500 32.8
Lakelands North $775,000 $1,247,500 -37.9

 

Lakelands West: The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, Wasaga Beach Lakelands Central: Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Severn, Springwater, Tay, Tiny Lakelands North: Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound

 

The Lakelands Association of REALTORS® represents more than 1,600 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as the Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

Provided by:

Matthew Lidbetter, President

The Lakelands Association of REALTORS® mlidbetter@sothebysrealty.ca

 

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Lakelands Association of REALTORS® MLS® home sales expected to recover gradually with more stability this year

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 203 units in January 2023. This was down sharply by 31.4% from the same period in 2022.

Residential non-waterfront sales were 25.3% below the five-year average and 21.4% below the 10-year average for the month of January.

Sales of waterfront properties numbered 34 units in January 2023. This was down sharply by 33.3% from the same period in 2022.

Waterfront sales were 24.8% below the five-year average and 22% below the 10-year average for the month of January.

“Sales of both waterfront and non-waterfront properties were trending well below average in January, picking up right where 2022 left off. However, looking through the seasonality of the data we can see that there has been a marginal improvement on a monthly basis since activity bottomed out in July last year,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®. “Price levels for both types of properties are still in decline and we will likely see outsized year-over-year drops as we move past the one-year mark of the all-time highs experienced last spring. On the supply side, the stock of listings is being bolstered by a rebound in the non-waterfront segment, although supply levels are still well below historical averages. While nobody expects a return to the levels of demand we saw over the past two years, the general expectation for this year is one of more stability and gradual recovery.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $665,600 in January 2023, a big reduction of 11.7% compared to January 2022.

The benchmark price for single-family homes was $685,900, a substantial decline of 12.7% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $590,300, down only 0.4% compared to a year earlier, while the benchmark apartment price was $467,300, up modestly by 1.1% from year-ago levels.

The median price for residential non-waterfront property sales in January 2023 was $679,000, a large decline of 16.7% from January 2022.

The median price for waterfront property sales in January 2023 was $920,000, a large decline of 20% from January 2022.

The total dollar value of all residential non-waterfront sales in January 2023 was $169.2 million, a sharp decrease of 39.2% from the same month in 2022.

The total dollar value of all waterfront sales in January 2023 was $36 million, down sharply by 55% from the same month in 2022.

The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as the Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.
Provided by:

Matthew Lidbetter,
President The Lakelands Association of REALTORS®

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

In 2022, Local REALTORS® supported our communities with over $90,000 in donations

Local REALTORS® with The Lakelands Association of REALTORS® go above and beyond to give back to their communities. Not only do they help families find the perfect home using their expertise and knowledge of the local area, but they also contribute financially to ensure those in need in our communities are supported.

In 2022, our REALTOR® members contributed $93,191 to support those in need:

  • Every REALTOR® Campaign $37,464
    Supports local shelter-based charitable organizations
  • The Lakelands Annual Turkey Challenge $37,825
    Provides meals to families in need in our communities through local charities
  • Tragic Relief Fund to local Food Banks $10,000
    Allocated to environmental, health, humanitarian, or natural disasters
  • Content Auction to Sell Buildings (one-time) to local Food Banks $5,402
    Sold contents of our Collingwood and Huntsville buildings in preparation to go virtual
  • REALTORS Care® Motorcycle Ride $500
    Ontario REALTORS Care® Foundation, which supports local shelter-based charitable organizations
  • British Columbia Floods $2,000
    Supports those in need affected by the 2022 floods

Please see here for a breakdown of individual recipients.

A huge thank you goes out to our 1,600+ REALTOR® members for opening their hearts last year. Their dedication, and undeniable willingness to help allows the association to continue to raise and contribute on their behalf.

Find a local REALTOR® here.

The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, and the Townships of Tay and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offers a unique blend of properties ranging from residential homes to smaller towns and the rural areas in between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Lakelands Association of REALTORS® MLS® home sales affected as interest rate hikes dampen activity in 2022

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 190 units in December 2022. This was down sharply by 38.3% from the same period in 2021.

Residential non-waterfront sales were 29.1% below the five-year average and 26.4% below the 10-year average for the month of December.

On an annual basis, residential non-waterfront sales totaled 4,634 units over the course of 2022. This was a substantial decline of 34.4% from 2021.

Sales of waterfront properties numbered 25 units in December 2022. This was down sharply by 51% from the same period in 2021.

Waterfront sales were 46.6% below the five-year average and 48.6% below the 10-year average for the month of December.
On an annual basis, waterfront sales totaled 1,170 units over the course of 2022. This was a substantial decline of 45.9% from 2021.

“Sales of both waterfront and non-waterfront properties affected totals for 2022 in the second half of the year. Identifying any turning points in demand or supply will be difficult as we move through the lower-volume months of winter. Going into the end of 2022 there were signs of an emerging rebound in sales activity – not one that would put us back on a path to reach the heights of the past two years but one that could get us back to a more normal market, historically speaking.” The Annual Non-waterfront sector was at its lowest annual level since 2012 while waterfront activity dropped to its lowest levels since 2008,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $676,400 in December 2022, a decrease of 5% compared to December 2021.

The benchmark price for single-family homes was $697,700, a moderate decrease of 5.6% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $605,600, increasing by 4.2% compared to a year earlier, while the benchmark apartment price was $464,500, a modest gain of 1.4% from year-ago levels.

The median price for residential non-waterfront property sales in December 2022 was $682,000, a small reduction of 2.8% from December 2021.

The more comprehensive annual residential non-waterfront median price was $720,000, increasing by 10.3% from all of 2021.

The median price for waterfront property sales in December 2022 was $780,000, a large decline of 18.4% from December 2021.

The more comprehensive annual waterfront median price was $985,000, increasing by 8.2% from all of 2021.

The total dollar value of all residential non-waterfront sales in December 2022 was $149 million, a sharp decrease of 42.1% from the same month in 2021.

The total dollar value of all waterfront sales in December 2022 was $24.2 million, down sharply by 61.6% from the same month in 2021.

Provided by:

Matthew Lidbetter, President
The Lakelands Association of REALTORS®

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Local REALTORS® Support Our Communities by Providing Meals to 1,488 Families in Need in our Communities This Holiday Season

Local REALTORS® with The Lakelands Association of REALTORS® once again generously donated to provide families in our communities with a meal this holiday season. This year we saw the need for support in our communities increase as the effects of the pandemic remained and inflation significantly increased grocery prices. We are proud of our local REALTORS® and Brokerages for keeping this important fundraiser alive for over 20 years.

Each year our REALTOR® members support housing and shelter-related charities in our communities for REALTORS Care® Week. Housing and shelter-related charities includes refuge, haven or protection that provides or improves the quality of life from hunger, elements, physical/psychological abuse, disabilities, and illness.

In support of REALTORS Care® Week, The Lakelands Association of REALTORS® once again launched their Annual Turkey Challenge, which encourages their members to contribute $25 donations which are exchanged for grocery vouchers, placed in Christmas hampers by our local charities, and distributed to families in need in our communities to use as they see fit. This year, 1,488 families in our communities will enjoy a festive meal this holiday season.

A huge thank you to all our members and brokerages for their support, as well as our local charities that will now carry out the contributions.
REALTORS® have the opportunity, beyond real estate transactions, to make a difference in our communities every day, therefore we are proud of our members for showing support during this elevated difficult time.

The Lakelands Association of REALTORS® represents more than 1,600 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.

Lakelands Association of REALTORS® MLS® home sales continue running below average in November

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 318 units in November 2022. This was a substantial reduction of 34.4% from the same period in 2021.

Residential non-waterfront sales were 26.1% below the five-year average and 23.6% below the 10-year average for the month of November.

On a year-to-date basis, residential non-waterfront sales totaled 4,444 units over the first 11 months of the year. This was a sharp decrease of 34.3% from the same period in 2021.

Sales of waterfront properties numbered 61 units in November 2022. This was a substantial reduction of 39.6% from the same period in 2021.

Waterfront sales were 38.3% below the five-year average and 37.8% below the 10-year average for the month of November.

On a year-to-date basis, waterfront sales totaled 1,147 units over the first 11 months of the year. This was a sharp decrease of 45.9% from the same period in 2021.

“Sales both waterfront and non-waterfront homes continued running at below-average levels in November and will likely continue to do so into early 2023 as buyers adjusted to a higher interest rate environment and sellers continue to adjust their pricing expectations,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Looking through the monthly seasonality we are actually seeing a promising upward trend since reaching bottom in July. It’s very unlikely that we’ll return to anywhere near the highs of the past two years but possible that by the midpoint of 2023 we could be approaching more normal historical levels, barring any further unforeseen developments. Supply is plentiful and the market balance is tilted slightly in favour of buyers at the moment, so we should begin seeing sidelined participants re-enter the market early next year.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $682,700 in November 2022, falling by 2.5% compared to November 2021.

The benchmark price for single-family homes was $703,600, a modest decline of 3% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units was $607,300, up modestly by 3.4% compared to a year earlier, while the benchmark apartment price was $477,300, an increase of 5.8% from year-ago levels.

The median price for residential non-waterfront property sales in November 2022 was $641,700, down by 8.3% from November 2021.

The more comprehensive year-to-date residential non-waterfront median price was $720,000, an increase of 10.6% from the first 11 months of 2021.

The median price for waterfront property sales in November 2022 was $722,000, down sharply by 16% from November 2021.

The more comprehensive year-to-date waterfront median price was $999,000, an increase of 9.4% from the first 11 months of 2021.

The total dollar value of all residential non-waterfront sales in November 2022 was $248.1 million, a big decline of 35% from the same month in 2021.

The total dollar value of all waterfront sales in November 2022 was $59.8 million, a substantial reduction of 42.2% from the same month in 2021.

Lakelands Association of REALTORS® MLS® home sales remain well below average levels in October

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 376 units in October 2022. This was down by 32.3% from the same period in 2021.

Residential non-waterfront sales were 32.4% below the five-year average and 29.4% below the 10-year average for the month of October.
On a year-to-date basis, residential non-waterfront sales totaled 4,123 units over the first 10 months of the year. This was a large decline of 34.3% from the same period in 2021.

Sales of waterfront properties numbered 93 units in October 2022. This was down sharply by 43.6% from the same period in 2021.
Waterfront sales were 40.7% below the five-year average and 40.7% below the 10-year average for the month of October.

On a year-to-date basis, waterfront sales totaled 1,088 units over the first 10 months of the year. This was a substantial decline of 46.1% from the same period in 2021.

“Sales of both waterfront and non-waterfront homes are still running well below typical levels for this time of year, a trend we expect will continue into next year as buyers and sellers play catch-up on rising interest rates and figuring out where to meet on pricing,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “The good news is on the supply side, where new listings have not dropped off but are actually holding up fairly well. This is giving a long-awaited boost to overall inventories, helping them rise from rock-bottom and unsustainable levels seen right up until earlier this year. Once buyers feel ready to return to the market and sellers have adjusted their pricing expectations there should be more ample availability for buyers than there has been through the frenzy of the past two years.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $704,500 in October 2022, a small gain of 2.7% compared to October 2021.

The benchmark price for single-family homes was $725,700, increasing by 2.3% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $645,600, a gain of 11.7% compared to a year earlier, while the benchmark apartment price was $484,600, up by 8.8% from year-ago levels.

The median price for residential non-waterfront property sales in October 2022 was $650,000, a moderate decrease of 5.8% from October 2021.

The more comprehensive year-to-date residential non-waterfront median price was $725,000, increasing by 11.5% from the first 10 months of 2021.

The median price for waterfront property sales in October 2022 was $859,000, a small reduction of 1.8% from October 2021.

The more comprehensive year-to-date waterfront median price was $1,000,000, increasing by 8.9% from the first 10 months of 2021.

The total dollar value of all residential non-waterfront sales in October 2022 was $274.6 million, a sharp decrease of 39% from the same month in 2021.

The total dollar value of all waterfront sales in October 2022 was $109 million, down sharply by 43.9% from the same month in 2021.

Lakelands Association of REALTORS® MLS® home decline from year-ago levels, new listings remain strong in September

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 358 units in September 2022.

This was a big decline of 39% from the same period in 2021.

Residential non-waterfront sales were 34.2% below the five-year average and 33.5% below the 10-year average for the month of September.

On a year-to-date basis, residential non-waterfront sales totaled 3,755 units over the first nine months of the year. This was a substantial reduction of 34.4% from the same period in 2021.

Sales of waterfront properties numbered 114 units in September 2022. This was a big decline of 44.9% from the same period in 2021.

Waterfront sales were 46.2% below the five-year average and 45.9% below the 10-year average for the month of September.

On a year-to-date basis, waterfront sales totaled 998 units over the first nine months of the year. This was a substantial reduction of 46.3% from the same period in 2021.

“Similar to the last few months, sales of both waterfront and non-waterfront residential properties remained well below average levels for this time of year as past and future interest rate increases continue to weigh on buyer sentiment,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “That being said, average sales price for both waterfront and non-waterfront homes are holding strong and a solid showing on the new supply side provides some good news to buyers who are still in the market and now have a wider selection of properties to choose from than they did when available listings hit their lowest levels on record only several months ago.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $711,500 in September 2022, a small gain of 3.3% compared to September 2021.

The benchmark price for single-family homes was $734,400, increasing by 2.8% on a year-over-year basis in September. By comparison, the benchmark price for townhouse/row units was $640,800, a gain of 12.6% compared to a year earlier, while the benchmark apartment price was $478,600, up by 8.4% from year-ago levels.

The median price for residential non-waterfront property sales in September 2022 was $637,500, a modest decline of 2.8% from September 2021.

The more comprehensive year-to-date residential non-waterfront median price was $730,000, up by 12.3% from the first nine months of 2021.

The median price for waterfront property sales in September 2022 was $1,050,000, a gain of 7.1% from September 2021.

The more comprehensive year-to-date waterfront median price was $1,027,501, up by 11.7% from the first nine months of 2021.

The total dollar value of all residential non-waterfront sales in September 2022 was $259.5 million, a substantial decline of 41.3% from the same month in 2021.

The total dollar value of all waterfront sales in September 2022 was $156.9 million, a big decline of 45.9% from the same month in 2021.

The Lakelands Association of REALTORS® represents more than 1,550 REALTORS®. There are several major geographical areas within the Association’s boundaries, including parts of Severn and Georgian Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the Townships of Tay, and Tiny. In the heart of Canada’s Cottage Country; Parry Sound, Muskoka, Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as well as a mix of waterfront homes/cottages on the many rivers and lakes that range from the smaller entry-level properties to the prestigious.

Provided by:
Chuck Murney
President The Lakelands Association of REALTORS®

REALTOR® is a trademark that identifies real estate professionals who are members of The Canadian Real Estate Association (CREA) and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics.