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 real estate 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
Plenty of waterfront condos for sale, high condo fees and low demand has kept waterfront condos in the low end of a balanced market.
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.
Very few waterfront condo sales. Total of 53 for 2017.
When to list
Most sales occurring late spring, but consistent into summer and fall.
The large increase in average sale price above is attributed to three sales over $1.2MM each on Lake Joseph. Median price is a better indicator of value.
Surprisingly, even with an almost “buyers market” for waterfront condos the sale to list price remains reasonable at over 95%.
Days on Market
Average days on market has improved slightly since 2016, but still the longest time to sell for any property type.
According the graph below it appears that later in the year is a better time to list your waterfront condo, with average days on market at 59.
