Thank you for checking out the November update on the Muskoka Real Estate Market. We hope that the information provided and analyzed is helpful to you. We are happy to have a conversation anytime to answer questions, provide more information or give personalized insights and opinions of value into the Real Estate Market in Muskoka. We encourage you to check out our Year in Review update also at the beginning of next year for a more detailed overview of the year.
This article contains three important graphs that provide useful insights into how the market has been year to date to November 30th. The first two graphs touch on the Waterfront cottage market and the final graph touches on how Residential investments have been performing in Huntsville, Bracebridge, and Gravenhurst this year.
This graph analyzes all waterfront properties that have been listed in Muskoka. You can see a sharp spike upwards from 2019 to 2020 on this graph. Over the past 10 years the market has been in the balanced market range between 35 and 55 percent. Which means, of the properties that are listed, 35 – 55 percent have sold. During this year amidst the COVID-19 pandemic, our lifestyles have changed drastically. Work from home and working remotely has become a new wave amongst professionals. The larger cityscape residences have become more risky with COVID-19. Many businesses have been mandated to be closed, there is less to do than ever before. This has definitely been a factor driving demand in Muskoka with outdoor enthusiasts and investors looking to transition to a more spacious Muskoka lifestyle. The market has surged through Q2 and Q3 which produced a 10 year high for the sold to listed ratio coming in at 82 per cent for 2020 on the waterfront market. This is key evidence that identifies the strong sellers market that is being experienced throughout the waterfront area. Inventory of newly listed homes is down 11.6 per cent YTD however the number of homes sold is up 40 per cent.
Across all of Muskoka, taking into account all waterfront sales, Year to date to November 30th 2020 the average sale price for a waterfront cottage in Muskoka has risen to $1,321,010. Average sale price is up 22 per cent since the end of 2019. The number of units sold up 40% and total number of new listings across the area decreasing 11.6 per cent, these are major factors that influence sale price as the demand and price for a Muskoka waterfront cottage has never been higher. Don’t hesitate to reach out as we can provide more information or give personalized insights and opinions of value into every unique situation in the Muskoka Real Estate Market.
To touch on the Residential side of the market in Muskoka. This graph shows the average sale price sorted by town, spanned over the past ten years. Year to date, the residential homes in the Towns of Huntsville, Bracebridge and Gravenhurst have appreciated on average 17 – 25 percent since the beginning of this year. Huntsville being the largest town of the three, has seen the largest percentage increase of just over 25 percent. Which brings the average sale price for a home in Huntsville to $520,479 YTD November 30th 2020. Gravenhurst follows close behind with an average appreciation gain of 22 per cent since the beginning of 2020 and Bracebridge trailing closely as well with just over a 17 per cent average sale price increase since the start of the year. Residential property owners and investors have had a very good year. Residential being similar to the Waterfront market in terms of sold to listed ratio. The Residential market in the three towns combined also is identified as experiencing a significant sellers market with a sold to listed ratio of 88 per cent.
Warmest Wishes to You and Yours as we greet 2021.
2020 has been challenging for so many; we are grateful that we have been able to continue to work. It’s time to give back. Thanks to you, our clients, we’ve been able to support important local charities including:
South Muskoka Hospital Foundation
Huntsville Memorial Hospital Foundation
West Muskoka Food Bank
The Table Soup Kitchen Foundation
Andy’s Place – Hospice Muskoka
Enjoy a happy and healthy holiday season.
The Aben Team
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.”