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2017 WATERFRONT COTTAGE MARKET -- FALL REPORT

Nov
2
2017
Win-win.

After a sales frenzy in spring and early summer, cottage country real estate

has returned to a more normalized market.
And a more balanced market offers benefits to both buyers and sellers.
 
For buyers this means an opportunity to avoid bidding wars and take more time to find the right cottage propertyto match their lifestyle needs.
On the other side of the transaction, sellers can benefit from lower-than-average inventory and an increase inyear-over-yearprices.
 
 
HALIBURTON
 
According to the Canadian Real Estate Association (CREA), Haliburton waterfront properties are undergoing a balancing act. In year-to-year comparison for Sept. 2016 vs Sept. 2017, prices for waterfront properties are up 2.6% and sales volume is down 2%.
 
When capturing the bigger picture, including the spring frenzy, the numbers are more dramatic.

For the period of Jan. 1 to Sept 30, 2016 compared to Jan. 1 to Sept. 30, 2017, prices are up 30% and sales are down 41%.

 
KAWARTHA LAKES
 
Sept. 2016 vs Sept. 2017, prices are down 30% and sales volume is down 185% from, according to the Kawartha Lakes Real Estate Association “one of the highest September levels on record in 2016”

Taking a wider sample, from Jan. 1 to Sept 30, 2016 compared to Jan. 1 to Sept. 30, 2017, prices are up 8.6% and sales are down 110%.

“Sales of both waterfront and non-waterfront properties have slowed from record levels this spring to more normal levels over the summer and fall, in line with trends seen across the Greater Golden Horseshoe region,” said Mike Stahls, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “That said, prices are up year over year on fewer sales, and months of inventory decreased again slightly over the previous month.”

 

**Numbers and data believed to be true and accurate at the time of writing. Data available is limited to property sales reported by the Canadian Real Estate Association, and excludes properties sold privately. Not intended to solicit those already under contract.

Tagged as: Market Report