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Lakelands Association of REALTORS® MLS® home sales come in above average to end the year in December

Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 314 units in December 2021. This was a moderate decrease of 9.8% from the same period in 2020.

Residential non-waterfront sales were 13.4% above the five-year average and 21.3% above the 10-year average for the month of December.

On an annual basis, residential non-waterfront sales totaled a record 7,065 units over the course of 2021. This increased by 3% from the same period in 2020.

Sales of waterfront properties numbered 51 units in December 2021. This was a big decline of 34.6% from the same period in 2020.
Waterfront sales were 1.6% above the five-year average and 1.8% above the 10-year average for the month of December.

On an annual basis, waterfront sales totaled 2,173 units over the course of 2021. This decreased by 5.2% from the same period in 2020.

“Real estate market activity in 2021 was nothing short of remarkable considering the highs we saw in 2020.” said Chuck Murney, President of the Lakelands Association of REALTORS®. “MLS® waterfront home sales cooled slightly but were still close to what we would expect in a typical December, while non-waterfront properties were still well above average for this time of year. In both cases the number of newly listed properties were unable to keep pace with the number of sales. Subsequently, overall inventory fell in both categories and were sitting at new record lows. The lack of supply combined with the current level of demand drove average price in both waterfront and non-waterfront properties to new all-time highs in December. As a whole, market balance is still firmly in favour of sellers and without an influx of new listings, it is reasonable to expect that the current market conditions will continue well into the first quarter of 2022. For more detailed information about your individual communities, please refer to the Lakelands Residential Market Activity Report available through your local REALTOR®.”

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 $644,300 in December 2021, up sharply by 32.6% compared to December 2020.

The benchmark price for single-family homes was $659,500, a substantial increase of 33.2% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $570,900, a jump of 34.4% compared to a year earlier, while the benchmark apartment price was $490,400, increasing by 27.9% from year-ago levels.

The median price for residential non-waterfront property sales in December 2021 was a record $704,500, a gain of 25.7% from December 2020.

The more comprehensive annual residential non-waterfront median price was $652,500, up sharply by 31.8% from all of 2020.
The median price for waterfront property sales in December 2021 was a record $1,050,000, a gain of 19.8% from December 2020.
The more comprehensive annual waterfront median price was $913,000, up by 29.7% from all of 2020.

The total dollar value of all residential non-waterfront sales in December 2021 was $263.8 million, an increase of 15.4% from the same month in 2020. This was also a new record for the month of December.

The total dollar value of all waterfront sales in December 2021 was $67.7 million, a big decline of 31.2% from the same month in 2020.

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.

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.