If you are looking to sell or buy a Muskoka property, here’s a good starting point. Below is a breakdown of the 2017 Muskoka cottage market. If you have questions, we’re here to help.
These summaries of the Muskoka real estate market were put together with data provided by The Lakelands Association of Realtors.
2017
Type of Market
#sold ÷ #listed = type of market
Low supply and savvy buyers has kept the waterfront market in check. 58% is barely a sellers market, therefore pricing properly is critical. A cottage purchase is with discretionary funds, not a necessity like a home purchase.
2016 to 2017
BUYERS MARKET (< 35%)
The supply of homes on the market exceeds demand.
BALANCED MARKET (35%-55%)
The number of homes on the market is equal to the demand or number of buyers.
SELLERS MARKET (> 55%)
The number of buyer’s wanting homes exceeds the supply or number of homes on the market.
2016 to 2017
2017
Listing price are still too high for many cottages, therefore reductions are necessary before a savvy buyer will purchase.
2008 – 2017
After the economic collapse in October 2008 it takes time for seller’s to adjust their properties to a price that will sell. Seller’s ended up chasing the market in 2010-2015. Market is improving, but still not as active as the residential market.
Days on Market
Average days on market is 15 days fewer year over year.
Q2 has the fewest days on market at 53 days.
