2019 Real Estate Market Review

Lake of Bays Waterfront:

Waterfront property sales in the Lake of Bays area numbered 12 units in the fourth quarter of 2019, down 13 sales when compared to the same quarter in 2018.

Annually, waterfront property sales in the Lake of Bays area numbered 89 units in all of 2019. This was down 25.2% when compared to the 119 units recorded in 2018.

Months of inventory numbered 8 at the end of the fourth quarter of 2019, down from the 21.5 months recorded at the end of the fourth quarter of 2018.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a tighter market, waterfront properties spent less time on the market in the fourth quarter of 2019 than they had a year earlier. The median number of days on the market for waterfront properties was 54.5 in the fourth quarter of 2019, down from 72 days in the fourth quarter of 2018.

The median sale price for waterfront properties in the Lake of Bays area rose 18.4% on a year-over-year basis to $562,500 in the fourth quarter of 2019.

Muskoka Lakes Waterfront:

Waterfront property sales in the Muskoka Lakes area numbered 35 units in the fourth quarter of 2019, up 15 sales when compared to the same quarter in 2018.

Annually, waterfront property sales in the Muskoka Lakes area numbered 209 units in all of 2019. This was up 7.7% when compared to the 194 units recorded in 2018.

Months of inventory numbered 13 at the end of the fourth quarter of 2019, down from the 56 months recorded at the end of the fourth quarter of 2018.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a tighter market, waterfront properties spent less time on the market in the fourth quarter of 2019 than they had a year earlier. The median number of days on the market for waterfront properties was 57 in the fourth quarter of 2019, down from 77 days in the fourth quarter of 2018.

The median sale price for waterfront properties in the Muskoka Lakes area posted a large increase of 43.6% to hit $1,400,000 on a year-over-year basis in the fourth quarter of 2019.

 

Huntsville non-waterfront:

Non-waterfront residential property sales in Huntsville numbered 98 units in the fourth quarter of 2019, a large increase of 32.4% when compared to the same quarter in 2018. This was the highest level of sales in the region for this quarter on record.

Annually, non-waterfront residential property sales in Huntsville numbered 407 units in all of 2019. This was up 25.6% when compared to the 324 units recorded in 2018.

Months of inventory numbered 2.6 at the end of the fourth quarter of 2019, down from the 7.1 months recorded at the end of the fourth quarter of 2018.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Despite a tighter market, detached properties spent more time on the market in the fourth quarter of 2019 than they had a year earlier. The median number of days on market for detached properties was 51 in the fourth quarter of 2019, up from 45.5 days in the fourth quarter of 2018.

The median sale price for non-waterfront residential properties in Huntsville was little changed, down only 0.1% on a year-over-year basis to $373,400 in the fourth quarter of 2019.

 

Data supplied by CREA – The Lakelands Association of Realtors®