2018 Muskoka Real Estate Big Lakes Review



January 10, 2019

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

Muskoka Cottage Sale to List Ratio

muskoka sale to list ratio

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

#Sold (241) ÷ #Listed (466) = Type of Market
52% -Balanced 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

Down 23.5%

Inventory

Down 19.5%

Muskoka Cottage Unit Sales by Month

Muskoka cottage sales on the big lakes down 23.5% year-over-year.

When to list

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 Joseph Unit Sales by Month

18.9% few sales in 2018 compared YOY. Below are total unit sales by quarter.

Lake Rosseau Unit Sales by Month

lake rosseau, muskoka real estate

8.8% few sales in 2018 compared YOY. Below are total unit sales by quarter.

lake rosseau sales by quarter

Lake Muskoka Unit Sales by Month

lake muskoka, muskoka real estate

34.3% fewer sales in 2018 compared YOY. Below are total unit sales by quarter.

Lake of Bays Unit Sales by Month

Comparable year in 2018 with 3.4% fewer sales compared YOY. Below are total unit sales by quarter.

Huntsville Big Lakes Unit Sales by Month

Lake Vernon, Fairy Lake, Peninsula Lake, Mary Lake

35.6% few sales in 2018 compared YOY

huntsville, sales by quarter

Muskoka Lakes Unit Sales

Lake Rosseau, Lake Joseph, Lake Muskoka

muskoka lakes unit sales

Lake Rosseau

Down 26.5%

 

Lake Joseph

Down 35.1%

 

Lake Muskoka

Down 34%

Lake of Bays and Huntsville Unit Sales

Lake of Bays, Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake, Skeleton Lake

lake of bays, huntsville lakes, unit sales

Lake of Bays

Down 5%

 

Huntsville Lakes

Down 34.1%

 

Skeleton Lake

Down 16.7%

Muskoka Lakes Average Sale Price

Lake Rosseau, Lake Joseph, Lake Muskoka

muskoka lakes average sale price

Lake Rosseau

$2,240,280

 

Lake Joseph

$2,516,130

 

Lake Muskoka

$1,626,920

Lake of Bays and Huntsville Lakes Average Sale Price

Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake

lake of bays average sale price

Lake of Bays

$1,178,700

 

Huntsville Lakes

$1,114,500

 

Skeleton Lake*

$909,000

 

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

Muskoka Big Lakes Combined Average Sale Price

Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake

muskoka average price

2017 to 2018

Average Price

$1,706,463 to $1,665,409

Down 2.4%

 

Median Price

$1,100,000 to $1,200,000

Up 9.1%

Muskoka Cottage Unit Sales by Price Range

Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake

muskoka sales by price range

34.3% fewer properties sold under $1,000,000 in 2018 compared YOY.

$1,000,000 – $4,000,000 price range remains fairly consistent with only a difference of 4.1% fewer sales in 2018 compared to 2017.

Muskoka Cottage Average Days on Market

Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Skeleton Lake, HUNTSVILLE LAKES: Fairy Lake, Peninsula Lake, Lake Vernon, Mary Lake

Days on Market

76

Average days on market is 13 days more year over year for 2018.

2018, Q2 has the fewest days on market at 43 days.

muskoka days on market

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.