On an annual basis 139 residential properties were sold in 2011, an increase of five per cent from 2010.
The number of months of inventory was 18.8 at the end of the fourth quarter, up from 15.5 months at the end of the fourth quarter of 2010. 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.
Facing a more balanced market, homebuyers took more time to shop than they had a year earlier. The median number of days on market stood at 96 in the fourth quarter of 2011, up from 78 in the fourth quarter of 2010.
The median sale price for residential properties declined 13 per cent from a year earlier to $135,250 in the fourth quarter of 2011.
COTTAGE SALES numbered 18 units in the fourth quarter of 2011. This was down 10 per cent from the same period in 2010.
On an annual basis 99 cottage properties were sold in 2011, an increase of two per cent from 2010.
The number of months of inventory stood at 35.5 at the end of the fourth quarter, down from 85 months recorded at the end of the fourth quarter of 2010. The previously elevated level of inventory is largely due to the seasonality of cottage sales. 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.
A tighter market for homes pushed buyers to spend a little less time shopping around in the fourth quarter of 2011 compared to a year earlier. The median number of days on market was 75.5 days in the last three months of 2011, down from 139 days in the same period in 2010.
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Source of Information Muskoka & Haliburton Real Estate Association & CREA
