2020 May Update – Muskoka Cottage Real Estate Market

With new listings down 19% YTD and the higher demand for a cottage property, the average sale price and number of unit sales are on the rise.

Average Sale Price is up 3.3% YTD to $1,125,400 and Unit Sales are up 2.3%.

This indicates that it is a good time to get your cottage listed while the supply of cottages for sale in Muskoka is lower than usual and there is an increased demand from buyers wanting to get out of the city.

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

Data based on the following: All Muskoka (Excludes residential, vacant land, condo and commercial properties)

Muskoka Cottage Unit Sales by Month

2020 May Sales – Up 14.9% YOY

April 2019 – 67 sales

April 2020 – 77 sales

2020 Jan to May – Up 2.3% YOY

January-May 2019 – 132 sales

January-May 2020 – 135 sales

May had 14.9% more sales YOY. YTD ending May 31, up 2.3% compared to the same period last year.

As restrictions start to be removed there’s an increased demand for a recreational property in Muskoka.

Muskoka Cottage Average and Median Sale Price

Average Sale Price – $1,125,400

Median Sale Price – $699,000

May is one of the biggest months for recreational property sales and this year is no exception despite the restrictions around the pandemic. 

The cottage market is officially underway and off to a great start considering the current precautions around showings. There’s a demand for cottage properties and getting away from the cities in southern Ontario.

*Excludes lakes in Seguin Twsp. (District of Parry Sound)

Muskoka Cottage New Listings by Month

2020 May New Listings – Down 23.9% YOY
April 2019 – 85 sales
April 2020 – 47 sales

2020 Jan to May New Listings – Down 19% YOY

January-May 2019 – 429 sales
January-May 2020 – 347 sales

With new listings down 19% YTD and the hightened demand for a cottage property the average sale price and number of unit sales are on the rise. Average Sale Price up 3.3% YTD and Unit Sales up 2.3%.

This indicates that it’s a good time to get your Muskoka cottage listed while supply is lower than usual and an increased demand from buyers wanting to get out of the city.

Data Source: The Lakelands Association of Realtors