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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.