January 2023 Real Estate Market Report for The Lakelands Central Area

Dated: February 16 2023

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REAL ESTATE MARKET REPORT | JANUARY 2023


Lakelands Central | January 2023 | Market Report
LAKELANDS CENTRAL:

The residential real estate market for The Lakelands Central area started 2023 off on the right foot! The area, which encompasses Midland, Penetang, Tay, Tiny, Springwater, Oro-Medonte, Orillia and Ramara, saw an incredible 53.5% increase in new listings; This means the area as a whole is in a balanced market which is great for both sellers and buyers with 4.3 months of available inventory.

The average sale price in January 2023 was $846,628, down 14.5% from January 2022, when bidding wars drove final sale prices up. At this time, properties remain listed on the market for a median of 38 days.

<a href=Midland Ontario | January 2023 | Market Report" width="100%" />

MIDLAND:

In January 2023, Midland saw a significant 50% increase in new listings over January 2022! With 30 new properties listed, and just 13 firm sales, the town has 3.3 months of available inventory.

Residential home prices were down year over year, with a 24.2% decrease, resulting in an average sale price of $539,992. At this time listings remain on the market for a median of 15 days.

<a href=Penetanguishene Ontario | January 2023 | Market Report" width="100%" />

PENETANGUISHENE:

For the second month in a row, Penetanguishene had just one firm residential home sale which makes it difficult to get an accurate gauge of the residential real estate market conditions for the town.

In January 2023, we saw 12 new listings double what the area had in January 2022. When you take into consideration there was only one property sold, Penetang has 30 months of available inventory, making it a serious buyer's market.

Tiny Ontario | January 2023 | Market Report

TINY:

In January, Tiny Township was one of the only areas to see an increase in sale price from January 2022. Up 31.4% for an average residential sale price of $1,115,357. This could be attributed to the area's decrease in sales.

Residential home sales were down 58.8%, for just 7 firm sales in January 2023. There was a nice 34.8% increase in new listings with has contributed to the 12.6 months of available inventory.

Tay Ontario | January 2023 | Market Report

TAY:

In January 2023, Tay Township’s average residential sale price was $527,638; down significantly from January 2022, but keeping on track with the average price in the last couple of months.

The number of residential homes sold had a notable 38.5% decrease; new listings were also down from 21 in January 2022 to 15 new listings in 2023. With just 4.1 months of available inventory, Tay is sitting in a balanced market, and properties remain listed for a median of 75 days.


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Jim Hawke

Jim Hawke – Broker of Record, and Michele Hawke – Accounting & Deal Clerk I would like to take this opportunity to introduce the founding members of Team Hawke Realty. Jim Hawke started his real....

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