If you are looking to sell or buy a Muskoka property, 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.
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If you are looking to sell or buy a Muskoka property, 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.
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. 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.
2017 to 2018
Units Sold
Inventory
Slow start in 2018 compared to 2016 and 2017. In the first half of 2018 there were 32.3% fewer sales YOY and only 13.6% fewer sales in the second half YOY. Appears that buyer’s were cautious heading into 2018 and I suspect the same for 2019. Buyer’s want to wait and see before making a decision to purchase.
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.
BIG LAKES: Lake Rosseau, Lake Joseph, Lake Muskoka, Lake of Bays, Fairy Lake, Mary Lake, Lake Vernon, Peninsula Lake, Skeleton Lake
Big Lakes
Medium/Small Lakes
Average Sale Price
Median Sale Price
2017 to 2018
Percentage Increase in Average Sale Price
Percentage Increase in Median Price
*Excludes lakes in Seguin Twsp. (District of Parry Sound)
Days on Market
Average days on market is 2 days fewer year over year.
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 there was over 22% fewer Muskoka cottage sales and the average price remained basically the same — 2018 $972,970, 2017 $969,087, representing an increase of .4%. Days on Market and Sale to List Price Ratios have relatively unchanged as well.
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.