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 residential real estate market.
The 2018 Muskoka Cottage and Muskoka Big Lakes market reports will be done soon, be sure to come back to see these statistics.
If you have questions, we’re here to help.
Residential (Bracebridge, Gravenhurst, Huntsville)
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
Lowest supply of Muskoka homes in over 10 years and high demand, mostly relocation from the south. Remains a sellers market.
2017 to 2018
Units Sold
Inventory
Residential (Bracebridge, Gravenhurst, Huntsville)
Two factors to consider: Lack of inventory (down 17.5%YOY) and buyers more cautious approach to purchasing with potential interest rate increase and current economic climate. Despite this decline in unit sales there is an out weighing demand resulting in an increase in average sale price to $366,237, up 8.9% YOY.
The spring market is still the best time to list your property, but strong sales persist well into the fall. If you have the foresight, it’s a good idea to get the pictures and virtual tour done late summer so that you are ready with a professional presentation of your property in the spring. Give us a call today to discuss the best strategy for your property.
Residential (Bracebridge, Gravenhurst, Huntsville)
Residential (Bracebridge, Gravenhurst, Huntsville)
Average Sale Price
2017 to 2018
Percentage Increase in Average Sale Price
Percentage Increase in Median Price
Residential (Bracebridge, Gravenhurst, Huntsville)
The market continues to improve with fewer reductions in listing price in order to sell a residential home. Pricing your property right the first time will net you more in the end.
Sold to List Price
Sold to Original List Price
After the economic collapse in October 2008 it took some time for the market to improve and for the seller’s to list their properties at a price that will sell.
Residential (Bracebridge, Gravenhurst, Huntsville)
Days on Market
Average days on market increased 10.21% from 37 days in 2017 to 41 days in 2018. Supply remains low and demand for a home in Bracebridge, Gravenhurst or Huntsville remains high keeping this number relatively unchanged.
Residential (Bracebridge, Gravenhurst, Huntsville)
Bracebridge
Gravenhurst
Huntsville
Huntsville continues to be the main destination for the residential home buyer.
Huntsville 43%
Bracebridge 33%
Gravenhurst 24%
Residential (Bracebridge, Gravenhurst, Huntsville)
Bracebridge
Gravenhurst
Huntsville
Comparing 2017 to 2018
Bracebridge
Gravenhurst
Huntsville
Residential (Bracebridge, Gravenhurst, Huntsville)
Main factor for the increase in average sale price
Overall the Muskoka Residential Real Estate Market is relatively strong, with the number of buyers exceeding the number of homes on market, therefore we are still in a seller’s market. In 2018 there were 43.1% fewer sales under $300,000 and 62.5% more sales between $600,000 and $800,000 compared to 2017. These factors are driving up the average price in Muskoka. 2018 average sale price up 8.9% year-over-year to $366,237. The lower inventory levels also contribute to the rising average price, as purchasers have to choose a home from the current low inventory. Days on Market and Sale to List Price Ratios have weakened slightly, but nothing significant.
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.