Ontario's Cottage Country Market 'Still Waiting On Next Phase Of Recovery'

📆 6/2/2023 5:04 PM
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New sales data from the Lakelands Association of Realtors reveals that sales of both waterfront and non-waterfront residential properties remained down across the region in April. realestate realestatenews Ontario cottagecountry

12:32 PM Jun 2, 2023

Non-waterfront sales totalled 442 in April — a sizeable 17.5% drop from the same time last year. It’s also 11.2% below April’s five-year average and 18% below its 10-year average. April’s sales bring the year-to-date total up to 1,270, which is down a whopping 30.5% from one year ago. “New supply is not only remaining at subdued levels but is actually declining on a month-over-month basis looking through the seasonality,” Lidbetter said. “As a result, sales are being restricted by the lack of new listings coming onto the market and this has caused overall inventories to stall and begin to decline again.

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