If you are looking to sell or buy a Muskoka cottage on one of the big lakes*, here’s a good starting point. Below is a breakdown of the 2018 Muskoka Cottage Market.
If you have questions, we’re here to help.
*Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Fairy Lake, Mary Lake, Lake Vernon, Peninsula Lake, Skeleton Lake
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.
Type of Market
Low supply and savvy buyers has kept the waterfront market in check. I believe there’s a high demand but the lack of product and with some properties at unrealistic prices, has kept this market at bay.
2017 to 2018
Units Sold
Inventory
The spring market is typically the best time to list your property, but I believe going into 2019 you are better to wait till June to list your cottage property. If you wait your property will look so much better with leaves on the trees and some flowers in bloom. It’s also important to discuss a strategy with your realtor because other factors may influence when to list, such as weather and economic conditions.
Lake Vernon, Fairy Lake, Peninsula Lake, Mary Lake
Lake Rosseau, Lake Joseph, Lake Muskoka
Lake Rosseau
Lake Joseph
Lake Muskoka
Lake of Bays, Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake, Skeleton Lake
Lake of Bays
Huntsville Lakes
Skeleton Lake
Lake Rosseau, Lake Joseph, Lake Muskoka
Lake Rosseau
Lake Joseph
Lake Muskoka
Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake
Lake of Bays
Huntsville Lakes
Skeleton Lake*
Lake of Bays and the Huntsville Lakes are the only lakes that experienced an increase in average sale price. The unit sales for Lake of Bays are basically even YOY, Huntsville has declined 34.1%, yet had the most significant increase in average price.
*Average price based only on 6 sales
Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake
2017 to 2018
Average Price
$1,717,955 to $1,671,421
Median Price
$1,115,000 to $1,206,250
Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake
Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake
Days on Market
Average days on market is 13 days more year over year for 2018.
2018, Q2 has the fewest days on market at 43 days.
The spring market is typically the best time to list your property, but I believe going into 2019 you are better to wait till June to list your cottage property. If you wait your property will look so much better with leaves on the trees and some flowers in bloom. It’s also important to discuss a strategy with your realtor because other factors may influence when to list, such as weather and economic conditions.
The Muskoka Cottage Market remains a balanced market, with the number of cottages on the market are equal to the demand or the number of buyers. In 2018 the average sale price for a Muskoka cottage on the big lakes was basically unchanged — 2017 $1,706,463, 2018 $1,665,409, down 2.4%. The median price up 9.1%, is the result of 34.3% fewer sales under $1,000,000 in 2018 over 2017.
Download the complete market update in PDF format.
These summaries of the Muskoka real estate market were put together with data provided by The Lakelands Association of Realtors.