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
Low supply and an aging demographic, both living and moving here is driving this market. I expect continued increases in condo price until inventory catches up with the demand.
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.
More sales in Q3 because in most cases the condo purchaser is first selling their freehold home before purchasing a condo.
When to list
I would suggest a mid/late summer listing for a non-waterfront condo.
Smart buyer’s are keeping the sellers honest as condo values are easily obtained by looking at previous sales. Other properties such as homes and cottages are unique and no two the same for the most part.
Days on Market
Average days on market is 36 days fewer year over year.
Condo sales, days on market remains fairly high.
