2020 June Update – Muskoka Residential Real Estate Market
January and February 2020 were strong months in Muskoka real estate with increasing inventory, sales and average price. 2020 was shaping into a good market for buyer’s and seller’s with decent inventory levels and sales. Then in April and May sales slowed significantly as everyone was in pandemic lockdown. As restrictions lifted and some pent up demand was created, sales shot up 41% YOY for June and 75.6% higher compared to the previous month of May. With higher demand in June and lower inventory overall of 21% the average price for 2020 increased to $443,399 YTD ending June 2020, that’s 12.1% higher than the average sale price in 2019.
In saying that, the ratio of new listings to units sold trending higher for 2020.
2019: 303 (sold) ÷ 474 (new listings) = 64%
2020: 274 (sold) ÷ 403 (new listings) = 68%
Percentages over 55% are considered a seller market.
If you would like more information, don’t hesitate to reach out anytime.
John Aben, Broker — john@abenteam.com or call 705-788-4770.
Mark Aben, Broker — mark@abenteam.com or call 705-788-4388.