Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 225 units in April 2017. This was down just 4.7% from last April’s record.
On a year-to-date basis, residential non-waterfront sales were running 13.3% above the first four months of 2016. This was a record for the period.
Sales of waterfront properties rose 3.6% to 173 units in April 2017. This was the highest April level on record.
On a year-to-date basis, waterfront sales were up 5.1% from the same period in 2016. This was also the highest level on record for this period.
“Non-waterfront and waterfront sales are still at or very near record levels, which has been the story for some time now,” said Mike Taylor, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “What has changed in recent months is how fast properties are selling, with the time between a listing and a sale the shortest it has ever been. This is closely tied to the current supply shortage and market tightness in the region.”
The median price for residential non-waterfront property sales was $315,000 in April 2017, an increase of 23.6% from April 2016.
The median price for waterfront sales was $485,000 in April 2017, rising 30.4% from April 2016.
The dollar value of all residential non-waterfront sales in April 2017 totalled $77.7 million, jumping 20.8% from April 2016.
The total value of waterfront sales was $118.1 million, surging 51.4% from April 2016.