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 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.

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®

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 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.

 

Lakelands Association of REALTORS® MLS® home sales remain below average as rising interest rates impact affordability

Lakelands Association of REALTORS® MLS® home sales remain below average as rising interest rates impact affordability

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 355 units in August 2022. This was a substantial reduction of 41% from the same period in 2021.

Residential non-waterfront sales were 39.8% below the five-year average and 38% below the 10-year average for the month of August.

On a year-to-date basis, residential non-waterfront sales totaled 3,404 units over the first eight months of the year. This was a sharp decrease of 33.7% from the same period in 2021.

Sales of waterfront properties numbered 141 units in August 2022. This was a substantial reduction of 43.8% from the same period in 2021.

Waterfront sales were 41.4% below the five-year average and 42.3% below the 10-year average for the month of August.

On a year-to-date basis, waterfront sales totaled 884 units over the first eight months of the year. This was a sharp decrease of 46.5% from the same period in 2021.

“Many housing markets in the province and across the country are experiencing sustained downturns in activity and ours was no exception in August,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Supply levels are moving up from record lows and prices are pulling back from their peak earlier this spring, trends that we expect will continue through the end of the year since we have at least one more rate hike on the horizon. Once interest rates have stabilized there will likely be a period of adjustment where buyers and sellers reassess their positions on affordability and pricing expectations, respectively, so the housing market is going to be in transition for some time while all of this is going on.”

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 $725,400 in August 2022, a gain of 6.5% compared to August 2021.

The benchmark price for single-family homes was $746,200, up by 6% on a year-over-year basis in August. By comparison, the benchmark price for townhouse/row units was $657,900, an increase of 14.2% compared to a year earlier, while the benchmark apartment price was $512,500, a sizable gain of 14% from year-ago levels.

The median price for residential non-waterfront property sales in August 2022 was $648,000, up modestly by 1.3% from August 2021.

The more comprehensive year-to-date residential non-waterfront median price was $747,075, an increase of 14.9% from the first eight months of 2021.

The median price for waterfront property sales in August 2022 was $890,000, down modestly by 3.8% from August 2021.

The more comprehensive year-to-date waterfront median price was $1,025,000, an increase of 13.3% from the first eight months of 2021.

The total dollar value of all residential non-waterfront sales in August 2022 was $249.4 million, a big decline of 43.1% from the same month in 2021.

The total dollar value of all waterfront sales in August 2022 was $171.7 million, a substantial reduction of 45.5% from the same month in 2021.

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.

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.

Lakelands Association of REALTORS® MLS® sees values holding with increase in inventory and a strong decline in sales

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 334 units in July 2022. This was a substantial reduction of 44.4% from the same period in 2021.

Residential non-waterfront sales were 44.3% below the five-year average and 43.4% below the 10-year average for the month of July.

On a year-to-date basis, residential non-waterfront sales totaled 3,048 units over the first seven months of the year. This was a sharp decrease of 32.8% from the same period in 2021.

Sales of waterfront properties numbered 131 units in July 2022. This was a substantial reduction of 39.4% from the same period in 2021.

Waterfront sales were 46.1% below the five-year average and 45% below the 10-year average for the month of July.

On a year-to-date basis, waterfront sales totaled 740 units over the first seven months of the year. This was a sharp decrease of 47.1% from the same period in 2021.

“Though the benchmark home price throughout the district is holding, the number of sales of residential waterfront and non-waterfront homes both dropped to well below average levels in July. Rising mortgage rates and wavering consumer sentiment continue to have a large impact on our local market. Inventory levels of residential and waterfront homes are up from rock bottom, which is a welcome sight given the limited selection over the past few years. ” said Chuck Murney, President of the Lakelands Association of REALTORS ®. “New listings are still holding up well, although the growing divide between new supply and buyer demand suggests that sellers are lagging behind the market on pricing expectations. With the added inventory, prices have been moderating from their peak reached in the spring in part due to buyer affordability being reduced. There is a chance of further moderation as the season moves on, given the added supply and the expected rate hikes on the horizon”

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 $738,900 in July 2022, an increase of 8.4% compared to July 2021.

The benchmark price for single-family homes was $759,600, a moderate gain of 7.6% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $669,500, increasing by 16.7% compared to a year earlier, while the benchmark apartment price was $527,400, a gain of 21.8% from year-ago levels.

The median price for residential non-waterfront property sales in July 2022 was $674,500, up by 6.2% from July 2021.
The more comprehensive year-to-date residential non-waterfront median price was $755,000, an increase of 16.2% from the first seven months of 2021.

The median price for waterfront property sales in July 2022 was $860,000, down by 4.4% from July 2021.

The more comprehensive year-to-date waterfront median price was $1,067,000, an increase of 18% from the first seven months of 2021.

The total dollar value of all residential non-waterfront sales in July 2022 was $252.8 million, a big decline of 41.2% from the same month in 2021.

The total dollar value of all waterfront sales in July 2022 was $146 million, a substantial reduction of 46.5% from the same month in 2021.

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.

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.

Demand for MLS® listed homes in Lakelands declines in June while overall inventory reaches highest level in two years

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 396 units in June 2022. This was a substantial reduction of 46.2% from the same period in 2021.

Residential non-waterfront sales were 34% below the five-year average and 36.2% below the 10-year average for the month of June.

On a year-to-date basis, residential non-waterfront sales totaled 2,721 units over the first six months of the year. This was a sharp decrease of 30.8% from the same period in 2021.

Sales of waterfront properties numbered 138 units in June 2022. This was a substantial reduction of 48.3% from the same period in 2021.

Waterfront sales were 40.1% below the five-year average and 38.1% below the 10-year average for the month of June.

On a year-to-date basis, waterfront sales totaled 610 units over the first six months of the year, significantly decreasing by 48.5% from the same period in 2021.

“As with many markets across the Greater Golden Horseshoe, demand for MLS® listed homes has declined at a very fast pace over the last few months, driven in part by the Bank of Canada’s aggressive attempt to tame inflation. Sales totals in June were well below the level we would expect for this time of year. In fact, the number of sales in June was the lowest total for the month since 1996,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “On the other hand, the number of newly listed properties coming on the market during the same period was above the long-term average. As a result, the number of available homes for sale at the end of June was above 2,000 for the first time in two years. The trifecta of rapidly rising mortgage rates, declining demand and surging listings has shifted the market balance, previously in favour of sellers for a prolonged period, into a buyer’s market for the first time in many years. With additional rate hikes anticipated soon it is reasonable to expect further moderation in our local market in the short term and possibly through the end of the 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 $777,300 in June 2022, increasing by 11.7% compared to June 2021.

The benchmark price for single-family homes was $802,400, a gain of 11% on a year-over-year basis in June. By comparison, the benchmark price for townhouse/row units was $670,900, up by 18.6% compared to a year earlier, while the benchmark apartment price was $537,100, an increase of 24.9% from year-ago levels.

The median price for residential non-waterfront property sales in June 2022 was $671,250, up modestly by 3% from June 2021.

The more comprehensive year-to-date residential non-waterfront median price was $769,000, an increase of 18.3% from the first six months of 2021.

The median price for waterfront property sales in June 2022 was $1,002,500, up by 14.6% from June 2021.

The more comprehensive year-to-date waterfront median price was $1,100,250, an increase of 21.5% from the first six months of 2021.

The total dollar value of all residential non-waterfront sales in June 2022 was $300.6 million, a big decline of 45.3% from the same month in 2021.

The total dollar value of all waterfront sales in June 2022 was $202 million, a substantial reduction of 34.2% from the same month in 2021.

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.

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.

The Lakelands Association of REALTORS® Is Going Virtual!

As a not-for-profit association, The Lakelands Association of REALTORS® (The Lakelands) takes pride in providing the tools, resources, and education to support members’ success and professionalism. With the dedication of its volunteer members, the association has continued to evolve over the years to keep up with the everchanging needs and requirements of its REALTOR® members.

In 2019, the association began the discussion on the use of their office buildings, located in Collingwood and Huntsville. It was clear that members were no longer required to visit the association offices as most business is conducted online. Everyday business actually looked a lot different for REALTORS® back in the day. Before having access to technology, members used the office buildings to drop off listings and photos for processing, Brokerages were picking up MLS® catalogues, sold books, and later on consumer guides for distribution. Forms, stickers, and lockboxes had to be picked up, and payment was done by cheque. Director, committee and staff meetings were also held at the offices. Having a physical location made sense for decades, but that’s no longer the case. And to maintain the two buildings is a great expense.

As the pandemic forced staff to work from home, it allowed the association to take advantage of technology and in return, staff were more productive and happier while working virtually. This solidified that a brick and mortar building was not only irrelevant for members, but also for staff.

With that said, we are excited to announce that in May 2022 members of The Lakelands voted to sell both the Collingwood and Huntsville office. The association will now work to prepare both buildings for sale and requesting RFPs for its members to assist with the transaction. Profits of both buildings will be used to further support members’ success and our communities. We appreciate all members for their involvement and support to help guide the association towards positive change benefiting the REALTOR® profession.

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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:
Chuck Murney, President
The Lakelands Association of REALTORS®
info@chuckmurney.com

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 to moderate as interest rate increases take hold

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled
508 units in May 2022. This was a decrease of 33.9% from the same period in 2021.

Residential non-waterfront sales were 9.1% below the five-year average and 15.6% below the 10-year
average for the month of May.

On a year-to-date basis, residential non-waterfront sales totaled 2,326 units over the first five months of the
year. This was down by 27.3% from the same period in 2021.

Sales of waterfront properties numbered 150 units in May 2022. This was a decrease of 44.9% from the same
period in 2021.

Waterfront sales were 22.4% below the five-year average and 28.7% below the 10-year average for the
month of May.

On a year-to-date basis, waterfront sales totaled 473 units over the first five months of the year. This was
down sharply by 48.4% from the same period in 2021.

“Our housing market is playing out like many others in the province, with sales activity down from last year’s
May record but more new listings returning to the market,” said Chuck Murney, President of the Lakelands
Association of REALTORS®. “Although overall inventories have started to move off their rock-bottom levels,
we are still facing historically low supply. Market conditions remain tight and prices continue to post gains in
the double digits. Given the sizeable interest rate increase we saw at the beginning of June and the
expectation for more hikes later this year, we will continue to monitor the evolution of our local market for
any further signs of a rebalancing back to more normal conditions.”

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 $804,800 in May 2022, up by
17% compared to May 2021.

The benchmark price for single-family homes was $833,600, an increase of 16.9% on a year-over-year basis in
May. By comparison, the benchmark price for townhouse/row units was $662,100, a sizable gain of 20.4%
compared to a year earlier, while the benchmark apartment price was $542,000, increasing by 23.2% from
year-ago levels.

The median price for residential non-waterfront property sales in May 2022 was $750,000, an increase of
15.4% from May 2021.

The more comprehensive year-to-date residential non-waterfront median price was $790,000, a sizable gain
of 21.5% from the first five months of 2021.

The median price for waterfront property sales in May 2022 was $1,037,501, an increase of 4% from May
2021.

The more comprehensive year-to-date waterfront median price was $1,150,000, a gain of 23.7% from the
first five months of 2021.

The total dollar value of all residential non-waterfront sales in May 2022 was $436.2 million, a decline of 23%
from the same month in 2021.
The total dollar value of all waterfront sales in May 2022 was $225.8 million, a sharp decrease of 33.9% from
the same month in 2021.

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.

Provided by:

Chuck Murney, President
The Lakelands Association of REALTORS®
info@chuckmurney.com

Lakelands Association of REALTORS® MLS® home sales back down to more typical levels in April

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 530 units in April 2022. This was a significant reduction of 34% from the same period in 2021.

Residential non-waterfront sales were 5% above the five-year average and 1.5% below the 10-year average for the month of April.

On a year-to-date basis, residential non-waterfront sales totaled 1,819 units over the first four months of the year. This was a decrease of 25.1% from the same period in 2021.

Sales of waterfront properties numbered 104 units in April 2022. This was a substantial reduction of 58.7% from the same period in 2021.

Waterfront sales were 17.5% below the five-year average and 22.3% below the 10-year average for the month of April.

On a year-to-date basis, waterfront sales totaled 322 units over the first four months of the year. This was a sharp decrease of 50.1% from the same period in 2021.

“Sales for both waterfront and non-waterfront properties came in well below last year’s record levels and were hovering around the average for this time of year, with activity for non-waterfront homes faring slightly better between the two,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Supply levels are still at historical lows, which means that if we see a continued moderation in sales activity there is ample room for the market to absorb a welcome increase in available listings. Prices are still trending near all-time highs but have begun to show signs of topping out.”

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 $745,500 in April 2022, increasing by 21.4% compared to April 2021.

The benchmark price for single-family homes was $761,600, a gain of 21.4% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $656,900, up by 23.8% compared to a year earlier, while the benchmark apartment price was $594,400, a large increase of 34.8% from year-ago levels.

The median price for residential non-waterfront property sales in April 2022 was $750,000, up by 17.2% from April 2021.

The more comprehensive year-to-date residential non-waterfront median price was $800,000, an increase of 23.1% from the first four months of 2021.

The median price for waterfront property sales in April 2022 was $1,202,500, up by 26.4% from April 2021.

The more comprehensive year-to-date waterfront median price was $1,175,000, a large increase of 30.6% from the first four months of 2021.

The total dollar value of all residential non-waterfront sales in April 2022 was $458 million, a big reduction of 20.7% from the same month in 2021.

The total dollar value of all waterfront sales in April 2022 was $162.7 million, falling 43.1% from the same month in 2021.

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 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.