{"id":145702,"date":"2023-10-27T10:58:00","date_gmt":"2023-10-27T14:58:00","guid":{"rendered":"https:\/\/doppleronline.ca\/rwddev\/?p=145702"},"modified":"2023-10-27T17:34:03","modified_gmt":"2023-10-27T21:34:03","slug":"september-real-estate-statistics-show-demand-is-decreasing","status":"publish","type":"post","link":"https:\/\/doppleronline.ca\/huntsville\/september-real-estate-statistics-show-demand-is-decreasing\/","title":{"rendered":"September real estate statistics show decreasing demand"},"content":{"rendered":"<div style=\"float: left; margin-right: 14px;\"><strong><broadstreet-zone zone-id=\"45658\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone><\/strong><\/div>\n\n\n\n<p>The Lakelands Association of Realtors is reporting that the median price for residential non-waterfront property sales in September 2023 was $627,739, a minor&nbsp; decrease of 2.1% from September 2022.&nbsp;The more comprehensive year-to-date residential non-waterfront median price was $680,000, a moderate decrease of 6.8% from the first nine months of 2022.&nbsp;<\/p>\n\n\n\n<p>The MLS<sup>\u00ae <\/sup>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 $717,200 in&nbsp; September 2023, a slight reduction of 0.9% compared to September 2022. &nbsp;<\/p>\n\n\n\n<p>The benchmark price for single-family homes was $746,200, edging down 0.4% on a year-over-year basis&nbsp;in September. By comparison, the benchmark price for townhouse\/row units was $582,000, a decline of 9.6% compared to a year earlier, while the benchmark apartment price was $474,500, up modestly by &nbsp;3.3% from year-ago levels.<\/p>\n\n\n\n<p>The median price for waterfront property sales in September 2023 was $938,000, a substantial decrease of 10.7% from September 2022.&nbsp;The more comprehensive year-to-date waterfront median price was $950,000, a moderate decrease of 7.8% from the first nine months of 2022.&nbsp;<\/p>\n\n\n\n<p>The total dollar value of all residential non-waterfront sales in September 2023 was $250.7 million, falling &nbsp;by 2.3% from the same month in 2022.&nbsp;The total dollar value of all waterfront sales in September 2023 was $177.8 million, a gain of 15.6% from &nbsp;the same month in 2022<\/p>\n\n\n\n<p>Residential non-waterfront sales activity recorded through the MLS<sup>\u00ae <\/sup>System for the Lakelands region&nbsp; totaled 354 units in September 2023. This was unchanged from the same period in 2022.&nbsp;<\/p>\n\n\n\n<p>Residential non-waterfront sales were 32.7% below the five-year average and 33% below the 10-year&nbsp; average for the month of September.&nbsp;<\/p>\n\n\n\n<p>On a year-to-date basis, residential non-waterfront sales totaled 3,456 units over the first nine months of &nbsp;the year. This was down by 7.8% from the same period in 2022.&nbsp;<\/p>\n\n\n\n<p>Sales of waterfront properties numbered 138 units in September 2023. This was a gain of 22.1% from the &nbsp;same period in 2022.&nbsp;<\/p>\n\n\n\n<p>Waterfront sales were 29.4% below the five-year average and 32.7% below the 10-year average for the&nbsp; month of September.&nbsp;<\/p>\n\n\n\n<p>On a year-to-date basis, waterfront sales totaled 940 units over the first nine months of the year. This was &nbsp;down by 5.1% from the same period in 2022.&nbsp;<\/p>\n\n\n\n<p>The total dollar value of all waterfront sales in September 2023 was $177.8 million, a gain of 15.6% from &nbsp;the same month in 2022.<\/p>\n\n\n\n<p>&#8220;Sales activity for non-waterfront residential properties was flat on a year-over-year basis while sales for waterfront homes posted a modest increase,&#8221; said Matthew Lidbetter, President of the Lakelands &nbsp;Association of REALTORS<sup>\u00ae<\/sup>. &#8220;However, demand for both types of properties continues to run below typical&nbsp; levels for this time of year and is expected to do so for the near future as potential buyers reassess their&nbsp; finances as [they] face headwinds from higher interest rates and economic uncertainty. Prices are also &nbsp;expected to remain lower compared to last year\u2019s records but at least appear to be stabilizing.&#8221;&nbsp;<\/p>\n\n\n\n<p><em>The Lakelands Association of REALTORS<sup>\u00ae <\/sup>represents more than 1,550 REALTORS<sup>\u00ae<\/sup>. There are several &nbsp;major geographical areas within the Association&#8217;s boundaries, including parts of Severn and Georgian &nbsp;Bay Townships; Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, and portions of &nbsp;the Municipality of Meaford, Grey Highlands. As well as Towns of Midland and Penetanguishene, the &nbsp;Townships of Tay, and Tiny. In the heart of Canada&#8217;s Cottage Country; Parry Sound, Muskoka, &nbsp;Haliburton, Orillia, Gravenhurst, Bracebridge, Muskoka Lakes, Huntsville, and Lake of Bays. Most within &nbsp;our geographical area are located less than a two-hour drive north of Toronto. Each offering a unique &nbsp;blend of properties ranging from residential homes to smaller towns and the rural areas in-between, as &nbsp;well as a mix of waterfront homes\/cottages on the many rivers and lakes that range from the smaller &nbsp;entry-level properties to the prestigious.<\/em><\/p>\n\n\n<h5 style=\"text-align: center;\">Don\u2019t miss out on Doppler!<\/h5>\n<p style=\"text-align: center;\"><strong>Sign up <a href=\"https:\/\/southmuskoka.doppleronline.ca\/dont-miss-out-on-doppler-sign-up-for-our-free-email-digest-local-news-in-your-inbox-three-times-per-week\/\"><u>here<\/u><\/a> to receive our email digest with links to our most recent stories.<br \/>\nLocal news in your inbox three times per week!<\/strong><\/p>\n<p style=\"text-align: center;\"><a style=\"background: #5cb85c url('https:\/\/d1iczxrky3cnb2.cloudfront.net\/red_logo.png') no-repeat 37px; color: #fff; text-decoration: none; font-family: Verdana,sans-serif; display: inline-block; font-size: 16px; padding: 15px 38px; padding-left: 75px; -webkit-border-radius: 2px; -moz-border-radius: 2px; border-radius: 2px; box-shadow: 0 1px 0 0 #1f5a89; text-shadow: 0 1px rgba(0, 0, 0, 0.3);\" href=\"https:\/\/donorbox.org\/support-huntsville-doppler\">Click here to support local news<\/a><\/p>\n<p style=\"text-align: center;\"><broadstreet-zone zone-id=\"45657\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone>\n","protected":false},"excerpt":{"rendered":"<p>The Lakelands Association of Realtors is reporting that the median price for residential non-waterfront property sales in September 2023 was $627,739, a minor&nbsp; decrease of 2.1% from September 2022.&nbsp;The more [&#8230;]<\/p>\n","protected":false},"author":13,"featured_media":145706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1188],"tags":[],"class_list":["post-145702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - 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