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.