Harvey Kalles Real Estate – 2018 Muskoka Residential Real Estate Year in Review

 

If you are looking to sell or buy a Muskoka property, here’s a good starting point. Below are some of the interesting statistics coming out of the 2018 Muskoka residential real estate market, provided by Aben Team – Harvey Kalles Real Estate

To see the full report please click here.
Also available are:
The 2018 Muskoka Real Estate Cottage Review
The 2018 Muskoka Real Estate Big Lakes Review

Overall the Muskoka Residential Real Estate Market is relatively strong, with the number of buyers exceeding the number of homes on market, therefore we are still in a seller’s market. In 2018 there were 43.1% fewer sales under $300,000 and 62.5% more sales between $600,000 and $800,000 compared to 2017. These factors are driving up the average price in Muskoka. 2018 average sale price up 8.9% year-over-year to $366,237. The lower inventory levels also contribute to the rising average price, as purchasers have to choose a home from the current low inventory. Days on Market and Sale to List Price Ratios have weakened slightly, but nothing significant.

These summaries of the Muskoka real estate market were put together with data provided by The Lakelands Association of Realtors.


UNIT SALES BY MONTH

Residential (Bracebridge, Gravenhurst, Huntsville)

RESIDENTIAL SALES DOWN OVER 21% YEAR-OVER-YEAR

Two factors to consider: Lack of inventory (down 17.5%YOY) and buyers more cautious approach to purchasing with potential interest rate increase and current economic climate. Despite this decline in unit sales there is an out weighing demand resulting in an increase in average sale price to $366,237, up 8.9% YOY.

WHEN TO LIST

The spring market is still the best time to list your property, but strong sales persist well into the fall. If you have the foresight, it’s a good idea to get the pictures and virtual tour done late summer so that you are ready with a professional presentation of your property in the spring. Give us a call today to discuss the best strategy for your property.


AVERAGE/MEDIAN SALE PRICE

Residential (Bracebridge, Gravenhurst, Huntsville)

Average Sale Price – $366,237 – 2017 to 2018
Percentage Increase in Average Sale Price – $336.281 TO $366,237,  Up 8.9%
Percentage Increase in Median Price – $320,000 TO $350,000,  Up 9.375%


SOLD PRICE TO LIST/ORIGINAL PRICE

Residential (Bracebridge, Gravenhurst, Huntsville)

The market continues to improve with fewer reductions in listing price in order to sell a residential home. Pricing your property right the first time will net you more in the end.
Sold to List Price – 98.5%
Sold to Original List Price – 98.2%
After the economic collapse in October 2008 it took some time for the market to improve and for the seller’s to list their properties at a price that will sell.


UNIT SALES BY TOWN

Residential (Bracebridge, Gravenhurst, Huntsville)

Bracebridge – 215 units (DN 11.9% YOY)
Gravenhurst – 156 units (DN 25.4% YOY)
Huntsville – 285 units (DN 25.4% YOY)
Huntsville continues to be the main destination for the residential home buyer.

MARKET SHARE
Huntsville 43%
Bracebridge 33%
Gravenhurst 24%


AVERAGE SALE PRICE BY TOWN

Residential (Bracebridge, Gravenhurst, Huntsville)

Average sale price by town:
Bracebridge – $376,454
Gravenhurst – $316,411
Huntsville – $385,802

Comparing 
2017 to 2018
Bracebridge – UP 9.4%
Gravenhurst – UP 2.9%
Huntsville – UP 11.2%

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.”