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Parry Sound Real Estate Market | July 2015

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Blog by John & Bonnie Fincham, Brokers | August 28th, 2015

Home Real estate sales recorded through the MLS® System of the Parry Sound & Area Association of REALTORS® were 61 units in July 2015, rising 13 per cent from July 2014. This was just two sales short of the July record from 2002.

In the Magnetawan area demand continues to be very strong with the larger lakes like Ahmic, Cecebe, Manitouwabing and Horn Lake being sought after. Vacant waterfront has slowed but is expected to pick up in the fall as people are trying to secure land for spring building. 

On a year-to-date basis home sales remain well ahead of last year, running almost 18% ahead of the first seven months of 2014.

The average price of all residential properties sold in July 2015 was $309,254, falling 9.7 per cent from the same month in 2014.

The average price for cottage properties edged down 1.6 per cent on a year-over-year basis to $345,354 in July. The average price for single detached homes was down 32.4 per cent over the same period to $236,775.

On a the year-to-date basis residential average price was $320,069, up six per cent from the first seven months of 2014.

New house real estate listings numbered 120 units in July 2015, a 17.8 per cent decrease from July 2014.

There is continued strong demand for waterfront real estate south of Parry Sound, keeping within the two hour travel time from Toronto. Otter lake, Clear Lake, Whitefish Lake and Rankin Lake are very popular choices for people that find cottages in the Muskoka’s out of their price range.

Overall supply is up after dropping off in November 2014. There were 796 active residential listings on the Association’s MLS® System at the end of July 2015, down 3.3 per cent from the same time in 2014.

There were 13 months of inventory at the end of July 2015. This was down from 15.2 months year ago and stood slightly above the long-run average for this time of the year. 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.