Lake of Bays Waterfront Sales, First Quarter Results for 2016-2020
At first glance when you look at waterfront sales on Lake of Bays during the first quarter of 2020, nothing appears out of the ordinary. In fact, the numbers seem reasonable especially when you consider that traditionally the cottage market is slower at this time of year, and we didn’t start to feel the impact of the Covid-19 virus until March. What will be interesting to watch are second quarter numbers. While Real Estate has been deemed an essential service, and has remained on the list through Ford’s second round of cuts, it is important to note that it is not business as usual. We are rethinking and working with our clients in different ways, through virtual open houses, 3D virtual tours, virtual meetings and through electronic signatures.
Though we expect to see some impact from Covid-19 in the second quarter, we remain optimistic that we will see stronger summer and fall markets, especially when we consider the possibility that people may wish to leave the urban density of Ontario’s larger cities once the immediate crisis has passed.
Below is a chart illustrating the number of first quarter sales of Lake of Bays waterfront from 2016-2020. Normally, you would also be presented with a graph illustrating average sale prices, however, there isn’t enough data to meaningfully chart this information. If you have any questions on the information presented or the state of the market, please give us a call directly at 705-349-0054.