2020 Muskoka Cottage Real Estate Market
Thank you for checking out the year in review on the Muskoka cottage market! It was a record breaking year in Muskoka real estate. Investments in Muskoka cottages have proven to have had one of the best years in history. Since the beginning of 2020 the market has shifted and changed drastically from the impacts of the year’s events. The market is strongly tilted toward the sellers advantage with low supply to record high demand. In 2019 we had an increase in cottages on the market, that’s the first increase since 2015. This year in 2020 with the effects from the pandemic, supply has dropped 10.4% while unit sales on the waterfront in Muskoka year over year has gone up 44.3%! The unit sales statistic this year being so significant has greatly affected values. The average sale price is up on waterfront cottages 24.3% since January 1st 2020, now over $1.3MM! Average days to sell dropped 17 days this year from 68 days to 51 days.
To have your existing Muskoka waterfront cottage professionally staged, photographed, listed and SOLD please feel free to contact the Aben Team.
If you would like to have a conversation for more information, reach out anytime.
John Aben: (705) 788.4770
Mark Aben: (705) 788.4388