Taking a look at the numbers from Lake of Bays Lake in the second quarter of 2020*, it becomes apparent that the effects of Covid-19, while not physically impacting our population has impacted our real estate market. While the total number of sales for waterfront on Lake of Bays remained consistant year over year, the sales for residential waterfront remained below average in April and May, however, in June the average number of waterfront sales on the lake doubled. Certainly, we felt the rush of cottage buyers in June, and we also saw the average sale price in this quarter increase on average about $196,492. What remains to be seen is how the third quarter will compare to years previous as more of the Covid-19 restrictions are lifted and people begin to feel even more comfortable in our state of new normal.
* Single family, residential, waterfront for Lake of Bays Lake. All stats are derived in whole from the numbers provided from The Lakelands Association of Realtors.