The real estate market in Muskoka has been steadily increasing and demand has been growing throughout the year. The new travel restrictions have impacted the market significantly turning a lot of attention inwards to the Ontario area for getaways within the province. Muskoka being the premier location in Ontario to visit and unwind at the lake, has greatly benefited from the demand. The increase of demand and dwindling supply of available properties has sent average sale prices shooting up in waterfront areas and residential areas anywhere from 10 per cent to 30 per cent.
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The “Big Three”
Muskoka, Joseph, Rosseau
The trend of falling inventory levels since 2015 continues this year with a cut year-to-date of 28 per cent fewer listings this year than last year (October 2020). Despite the decrease of inventory unit sales have increased 5.5 per cent year-over-year. Increasing unit sales and decreasing supply pushes the market deeper into sellers market territory with every sale. On the Big Three “Muskoka, Joseph, Rosseau” the sellers market is at 71 per cent of properties listed are sold.
172 (number sold) ÷ 241 (number listed) = .71 (71 per cent)
71 per cent = Sellers Market
Huntsville lakes and Skeleton Lake
This year, the number of new units listed for sale are down 24.5 per cent. This statistic in unison with the increased number of waterfront units sold (up 25 per cent) contributes heavily to the sudden tipping into deep sellers market territory. The Huntsville Lakes, Lake of Bays and Skeleton Lake are experiencing a similar scenario as the “Big Three” with 73 per cent of properties listed are sold.
134 (number sold) ÷ 184 (number listed) = .73 (73 per cent)
73 per cent = Sellers Market
Residential Market in Huntsville, Bracebridge, and Gravenhurst
Turning to the residential side of the market. In the towns of: Huntsville, Bracebridge and Gravenhurst. The sellers again have the advantage. 85 percent of homes that have been listed for sale have sold. This is the highest ratio between the number of homes listed to the number of homes sold in the last ten years. 2016 being the runner up having an end of year total of 78 per cent. The year to date average sale price increases yield great news for homeowners and investors in the area. In Bracebridge since January 1st average sale prices are up 16 per cent. In Huntsville year to date average sale prices are up 25 per cent. Finally in Gravenhurst average sale prices are up 23 per cent since the beginning of the year.
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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.
2019 Harvey Kalles Diamond Club Award, top 10; 2018 Harvey Kalles Diamond Club Award, top 10; 2017 Royal LePage National Chairman’s Club recipient, top 1% in Canada; 2017 National Chairman’s Club recipient, top 1% in Canada; 2016 Royal LePage Diamond Award recipient, top 3% in Canada; 2016 Diamond Award recipient, top 3% in Canada; 2015 National Chairman’s Club recipient, top 1% in Canada; 2015 Royal LePage 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.”