Another strong year for sellers of Muskoka Residential Real Estate. Increased inventory of 9.2 per cent for residential homes in Muskoka helped prevent the market from becoming even more of a sellers’ market. Average price for a home in Muskoka is just short of $400k, at $395,512, which is an increase of 7.65 per cent year over year. Huntsville and Bracebridge average prices were slightly over $400k at $406,176 and $400,939 respectively. The majority of the residential sales were in Huntsville with 51 per cent market share, Bracebridge at 27 per cent and Gravenhurst at 22 per cent. Homes, on average, are selling in 44 days and selling at 98.3 per cent of the listing price.
The Muskoka cottage market continues to be a sound investment. Since 2010 the average price has increased over 79.9 per cent. The market appears to be balanced with equal supply to demand. In 2019 we had an increase in the number of cottages on the market – that’s the first increase since 2015. Despite fewer sales in 2019 the average sale price went up 11.88 per cent, now over $1MM for the first time. There were four sales in the Muskoka Lakes area in 2019 over $8MM, and they were big factors in driving up that average price. Days on the market remain fairly consistent over the past three years. It now takes approximately 69 days on average to sell a cottage.
Muskoka Big Lakes Report:
The following statistics are only for the larger lakes in Muskoka and Seguin Township. These include the following: Lake Joseph, Lake Rosseau, Lake Muskoka, Skeleton Lake, Lake of Bays, Fairy Lake, Lake Vernon, Peninsula Lake and Mary Lake.
The Muskoka cottage market continues to be a sound investment. Since 2010 the average price of a cottage on one of the Muskoka big lakes has increased 86.7 per cent. The market remains balanced with equal supply to demand. In 2019 we had an increase in inventory of 4.5 per cent. That’s the first increase since 2015. Despite fewer sales in 2019 the average sale price has gone up 10.7 per cent to $1,844,414. There were four sales in the Muskoka Lakes area in 2019 over $8MM. These sales were big factors in driving up the average price year over year. The average number of days on market was 71 days, and the fewest days on market for 2019 were in Q3. The sale to list percentage for 2019 was 95.5 per cent, basically unchanged from the previous year.
If you would like more information, don’t hesitate to reach out anytime. Email: [email protected] or call 1-844-843-2236.
Data Source: The Lakelands Association of Realtors
Aben Team – Harvey Kalles Real Estate
We are specialists in Muskoka real estate and bring our professionalism, experience, and knowledge to every real estate transaction. If you are thinking of buying or selling a home or cottage in Muskoka, we would love to help you with either process. With an office in Huntsville servicing Huntsville/Lake of Bays and an office in Port Carling servicing the Muskoka Lakes, we are prepared to assist you anywhere in Muskoka.
Make sure to check out ‘What Makes Us Different’ to find out what sets us apart from the competition when it comes to selling your property, or getting the latest Muskoka market stats to keep you informed on possibly your biggest investment.
2017 National Chairman’s Club recipient, top 1% in Canada, 2016 Diamond Award recipient, top 3% in Canada, 2015 National Chairman’s Club recipient, top 1% in Canada, Certified Luxury Home Marketing Specialist, Senior Real Estate Specialist
The Aben Team is proudly serving customers from two offices for your convenience.
Please select a location near you:
Huntsville Office: 13 Minerva Street East, Huntsville ON P1H 1P2
Port Carling Office: 1A Lee Valley Drive, Port Carling ON P0B 1J0
“The Aben Team took the time to understand our wants and needs. We knew immediately that John and Mark’s patience, professionalism and firsthand knowledge of Muskoka was the perfect fit to help us with our search. They were instrumental in helping us fulfill our retirement dreams by finding us the perfect home in a wonderful community. Thank you John and Mark for your patience, flexibility and sound advice.”