Both Waterfront and Residential sales have been exceeding expectations this year. Sales on the waterfront are continuing to surpass previous years numbers month after month. The waterfront market has seen a 40.8 per cent year-to-date increase in unit sales comparing Jan 1st – September 30th 2019 to the same timeframe in 2020. New listings remain lower year to date, with 12.5 per cent fewer listings. Well priced properties are generating a lot of interest. Selling over asking price is becoming more common on properly priced properties both residential and waterfront. There are plenty of buyers looking to move from larger cities and into the Muskoka area to take advantage of the work at home situations and lack of travel options.
Waterfront
The ratio of units sold to number of new listings has stayed constant this month after trending increasingly high all year. In the previous month of August the ratio was 75.5 per cent, which indicates the cottage market has dove .3 per cent deeper into the sellers market this month. Staying almost on point with the ratio of last month.
- 2019: 517 (sold) ÷ 1098 (new listings) = 47 per cent (buyers market)
- 2020: 728 (sold) ÷ 960 (new listings) = 75.8 per cent (sellers market)
- Sellers Market = 55 per cent and Higher (More buyers than there are listings)
- Balanced Market = 35 per cent – 55 per cent (About equal listings to the number of buyers)
- Buyers Market = 35 per cent and lower (More listings than there are buyers)
Muskoka cottage unit sales and average price
The high demand for a cottage in Muskoka and 12.5 per cent fewer listings year over year is driving up the average sale price for a waterfront property in Muskoka 24.5 per cent year-to-date.
September had 37.6 per cent more sales year-over-year over September 2019. From January 31st to September 30th, the number of sales are up 40.8 per cent compared to the same period last year. Strong sales in September for the fourth month in a row almost matching the previous months of August highs of 130 sales on the waterfront! The waterfront market has been on fire! Seeing another 128 sales throughout the month of September, the highest ever recorded in the month of September. Very promising numbers for anyone investing in waterfront in the area. Even more exciting for anyone looking to list their waterfront home.
The desire for a waterfront cottage in Muskoka has never been higher. September 2020 is the fourth month straight of record breaking numbers in monthly sales recorded on Muskoka waterfront. Demand has tapered slightly since June and Julys record high amount of sales. However, the demand is not fizzling out by any means.
2020 September Sales – UP 37.6 per cent year-over-year
- September 2019 – 93 sales
- September 2020 – 128 sales
2020 Jan to September – UP 40.8 per cent year to date
- January-September 2019 – 517 sales
- January-September 2020 – 728 sales
- Average Sale Price – $1,355,558
- Median Sale Price – $850,000
Muskoka cottage listed to sold ratio
The high demand for a cottage in Muskoka and 12.5 per cent fewer listings year over year is driving up the average sale price for a waterfront property in Muskoka 24.5 per cent year-to-date.
The downward trending nature of the supply curve is a good sign for the area. It means more people are moving in with less people as eager to move out. Since 2015 the supply has taken a significant drop (50 per cent) since the early 2010s. Despite the decrease in inventory there was an increase in unit sales of 26 per cent since 2019. We are now deep into sellers market territory where there is a lack of supply for the high demand for waterfront and residential alike.
- Listed – 989 cottages
- Sold – 751 cottages
Data based on the following critera: All Muskoka (Excludes residential, vacant land, condo and commercial properties). *Excludes lakes in Seguin Twsp. (District of Parry Sound)
Muskoka residential average sale price by town
With new listings down and the heightened demand for a property the average sale price and total number of unit sales are on the rise. Average sale price is up 28.5 per cent in Huntsville YTD since the end of last year. In Bracebridge, the average sale price is up 15 per cent and In Gravnhurst the average sale price is up a whopping 30 per cent since the end of 2019. We still have a full quarter of the year ahead of us and already two of the three towns in Muskoka are seeing 30 per cent increases in average sold prices. It will interesting to see how the rest of the year plays out for residential home values. The increase of demand and lack of available properties can lead sellers to selling homes above asking price under multiple offers.
All this data considered and analyzed indicates that there is no better time to get your Muskoka cottage or Residential home listed while supply is low. The demand from buyers wanting to get out of the city could help sell your property for fantastic value.
Year-to-date 2020 September 30th Average Home Price Increase
- Huntsville – 28.5 per cent
- Bracebridge – 15 per cent
- Gravenhurst – 30 per cent
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.”
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