Lakelands MLS® Statistical Report – July 2023
| Lakelands Association of REALTORS® MLS® home sales remain below average in July |
| Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 406 units in July 2023. This was up by 24.9% from the same period in 2022. |
| Residential non-waterfront sales were 29.3% below the five-year average and 29.5% below the 10-year average for the month of July. |
| On a year-to-date basis, residential non-waterfront sales totaled 2,688 units over the first seven months of the year. This was a substantial decrease of 11.4% from the same period in 2022. |
| Sales of waterfront properties numbered 112 units in July 2023. This was down sharply by 17.6% from the same period in 2022. |
| Waterfront sales were 48.9% below the five-year average and 50.9% below the 10-year average for the month of July. |
| On a year-to-date basis, waterfront sales totaled 651 units over the first seven months of the year. This was a substantial decrease of 12% from the same period in 2022. |
| “Sales activity was still running below average levels for July but we are noticing a diverging trend between the two major property types,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS® . “Sales of non-waterfront residential homes recorded an increase compared to year-ago levels, while activity for waterfront properties continued to decline. Interestingly, price levels for nonwaterfront homes are still well below their records from last year while prices for waterfront properties have recovered at a much faster pace. Although demand is more muted for waterfront homes, they are still spending a relatively short amount of time on market before selling compared to the rest of history.” |
| 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 $717,000 in July 2023, a moderate decrease of 4.7% compared to July 2022. |
| The benchmark price for single-family homes was $746,300, falling by 3.9% on a year-over-year basis in July. By comparison, the benchmark price for townhouse/row units was $577,600, a sharp decrease of 14.1% compared to a year earlier, while the benchmark apartment price was $471,500, down by 7% from year-ago levels. |
| The median price for residential non-waterfront property sales in July 2023 was $685,000, a moderate gain of 5.2% from July 2022. |
| The more comprehensive year-to-date residential non-waterfront median price was $685,000, decreasing by 9.3% from the first seven months of 2022. |
| The median price for waterfront property sales in July 2023 was $1,062,500, a sizable gain of 24.9% from July 2022. |
| The more comprehensive year-to-date waterfront median price was $950,000, a substantial decline of 10% from the first seven months of 2022. |
| The total dollar value of all residential non-waterfront sales in July 2023 was $317.8 million, an advance of 32.2% from the same month in 2022. |
| The total dollar value of all waterfront sales in July 2023 was $162.5 million, up by 9.8% from the same month in 2022. |
| Sales (all areas) | July 2023 |
July 2022 |
Year-over-year % change |
| Non-Waterfront Residential | 406 | 325 | 24.9 |
| Waterfront | 112 | 136 | -17.6 |
| Median price (all areas) | July 2023 |
July 2022 |
Year-over-year % change |
| Non-Waterfront Residential | $685,000 | $651,000 | 5.2 |
| Waterfront | $1,062,500 | $851,000 | 24.9 |
| Non-Waterfront Residential Sales | July 2023 |
July 2022 |
Year-over-year % change |
| Lakelands West | 150 | 99 | 51.5 |
| Lakelands Central | 168 | 137 | 22.6 |
| Lakelands North | 88 | 89 | -1.1 |
| Non-Waterfront Residential Median Price | July 2023 |
July 2022 |
Year-over-year % change |
| Lakelands West | $732,500 | $715,000 | 2.4 |
| Lakelands Central | $682,500 | $645,000 | 5.8 |
| Lakelands North | $592,000 | $580,000 | 2.1 |
| Waterfront Residential Sales | July 2023 |
July 2022 |
Year-over-year % change |
| Lakelands West | 14 | 7 | 100.0 |
| Lakelands Central | 19 | 18 | 5.6 |
| Lakelands North | 79 | 111 | -28.8 |
| Waterfront Residential Median Price | July 2023 |
July 2022 |
Year-over-year % change |
| Lakelands West | $1,047,500 | $1,100,000 | -4.8 |
| Lakelands Central | $1,250,000 | $1,005,000 | 24.4 |
| Lakelands North | $980,000 | $815,000 | 20.2 |
| 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 1,550 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:
Matthew Lidbetter, President
The Lakelands Association of REALTORS®
mlidbetter@sothebysrealty.ca
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