Real estate sales and prices continue to climb steadily in the Georgian Triangle area, according to the latest monthly report from the area’s real estate association.
The Lakelands Association of Realtors, which includes reps from The Blue Mountains to Midland to Muskoka and Parry Sound, reported a 25 per cent increase in pricing for non-waterfront properties and almost 20 per cent for waterfront properties across the whole coverage area.
The west end of the association boundaries, including The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, and Wasaga Beach, is the only portion that saw an increase in December 2021 in both the number of homes sold and the median price compared to December 2020.
The association reported, based on MLS statistics, there were 137 non-waterfront residential units sold in the western portion of the region in December 2021, which is up by seven per cent compared to the same month in 2020. The median price for a non-waterfront property in the area is $758,000, nearly 12 per cent higher than December 2020.
There were eight waterfront residential sales in the Georgian Triangle area last month, down from 11 in December 2020. The median price, however, was up a bit at $1,297,500 compared to 1,285,000 in 2020.
Across the whole Lakelands territory, the annual residential non-waterfront median price for a house sold in 2021 was $652,500, which is up by nearly 32 per cent compared to 2020.
The annual median waterfront price was $913,000, which is up by nearly 30 per cent from 2020.
In December non-waterfront home sales for the Lakelands territory totalled $263.8 million, which is 15 per cent higher than in December 2020 and a record for the month.
Waterfront home sales dropped December 2021 to $67.7 million, down by 31 per cent from December 2020.
Chuck Murney, president of the Lakelands Association of Realtors, said the seller's market continues in the Lakelands territory.
“Real estate market activity in 2021 was nothing short of remarkable considering the highs we saw in 2020,” said Murney in a news release. “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.”
Across the Lakelands territory, there were 7,065 homes sold through 2021, which is up by three per cent from 2020.
The northern part of the region (Muskoka and Parry Sound area), led the numbers for waterfront sales with 35 waterfront homes sold in December 2021, which was down from 54 sold in December 2020. The median price for a waterfront home in the northern area of the region was a little over $1 million.
Non-waterfront homes, however, came with the lowest median price in the territory at about $635,000 and 69 homes sold for December 2021.
