December 10, 2020

2020 November Update – Muskoka Residential Real Estate Market

The market has seen very high demand through the summer and lower inventory overall as we continue into the middle of Q4. The average sale price in 2020 year to date in November increased to $497,905 ending November 30th 2020, which is 22.2% higher than the average sale price since December 31st, 2019. Now into the month of December all the November statistics have come in. Sales are up 27.1% in the month of November compared to the same month in 2019! Year to date in 2020, total sales have accelerated throughout the year despite COVID-19. Sales are up 13.5% when comparing January 1st to November 30th 2019, to the same time frame in 2020. Muskoka is seeing an influx of demand for residential homes in the towns of Huntsville, Bracebridge, and Gravenhurst. Great news for the towns, property owners and investors in the area.

The ratio of new listings to units sold trending higher in 2020.

2019: 676 (sold) ÷ 928 (new listings) = 66% (sellers market)

2020: 781 (sold) ÷ 891 (new listings) = 88% (sellers market)

(Year over Year from January 1st to November 30th 2019 vs 2020)

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.

Percentages over 55% are considered a seller market.

Since the October update, the statistics indicate we are reaching further into a sellers market. The ratio of sold to new listings last month was 85% as of this month we another 3% deeper into the sellers market territory. Unprecedented amount of demand in the residential sector of Muskoka in the last ten years. We have now surpassed the sellers markets of 2016 where the percentage reached 78% with just under a month left in 2020 we are currently at 88% of listed homes have sold.

If you would like more information, 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: Bracebridge, Gravenhurst, Huntsville (Excludes waterfront, vacant land, condo and commercial properties)

2020, Muskoka Residential List to Sold Ratio

Muskoka Residential Unit Sales by Month

muskoka-residential-real-estate-unit-sales-30%

2020 November Unit Sales UP 27.1% YOY

November 2019 – 51 sales
November 2020 – 70 sales

2020 January to November UP 13.4% YOY

Jan-November 2019 – 676 sales
Jan-November 2020 – 781 sales

Unit sales have trended upwards most of the year despite the COVID-19 pandemic, increasing the year over year total number of residential sales to 13.4% more sales year over year compared to 2019. (Jan 1st – Nov 30th)

Slower months in April and May with COVID, then the rebound in June made the market bounce back in the number of sales statistic, with 41% more sales in June 2020 compared to June 2019. In July, unit sales soared again 30.1% compared to July 2019. For August, 38% more residential sales compared to August 2019. September was a great month seeing 36.9% more residential unit sales than 2019. Overall market unit sales YTD are up 13.4% compared to the same period in 2019 (Jan 1st- Nov 30th) The demand is at peak levels for your Muskoka residential home. Listings at this time of year are still drawing a lot of interest from buyers looking in the area. If you are thinking of listing your home now is still a great time. If you would like more information feel free to reach out anytime.

2021 January Muskoka residential unit sales

Muskoka Residential Average and Median Sale Price

2020 Average Sale Price – $497,905

2020 Median Sale Price – $454,950

2019 vs. 2020 Jan-Nov UP 25.8%
Percentage Increase in Average Sale Price
$395,512 to $497,905

Percentage Increase in Median Price. UP 19.7%
$379,900 to $454,950

High demand for a home in Muskoka is driving up the price in Huntsville, Bracebridge & Gravenhurst. Great news for anyone invested in residential real estate, also great news for anyone looking to list their home.

2020 November Muskoka residential average/median sale price

Muskoka Residential New Listings by Month

2020 November New Listings – UP 7.6% YOY
November 2019 – 52 Listings
November 2020 – 56 Listings

In the months of September and October we have seen the number of new listings surpass the number of new listings in 2019 in the same months. The market had 66% fewer new listings in April 2020 . While restrictions were lifting we experienced an increase of 9.2% of new listings in June 2020 compared to June of 2019. In July we saw evidence of a strong sellers market with 27.3% fewer new listings with an increased amount of unit sales. Year over year in November, the number of new listings this month over the same month last year is up just 7.6% Upon analysis of these numbers, the evidence that market is heavily leaning toward the sellers side in residential and waterfront a like is apparent. The November numbers provide evidence that the market is beginning to slow as we approach the holiday season. As of now the market is heavily geared toward sellers having the advantage with an 88% listed to sold ratio of residential homes in the Huntsville, Bracebridge, Gravenhurst areas.

The number of new listings Year to Date (Jan 1st – Nov 30th) are down 4%.

If you would like more information, 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 Source: The Lakelands Association of Realtors.
Criteria: Region: Muskoka, Cities of “Huntsville, Bracebridge, Gravenhurst”, Freehold, Waterfront : No.

2020 November Update – Muskoka Residential Real Estate Market

2020 November Update – Muskoka Residential Real Estate Market

Data based on the following: Bracebridge, Gravenhurst, Huntsville (Excludes waterfront, vacant land, condo and commercial properties)

Muskoka Residential Unit Sales by Month

Muskoka Residential Average and Median Sale Price

Muskoka Residential New Listings by Month

Data Source: The Lakelands Association of Realtors. Criteria: Region: Muskoka, Cities of “Huntsville, Bracebridge, Gravenhurst”, Freehold, Waterfront : No.

Data Source: The Lakelands Association of Realtors.
Criteria: Region: Muskoka, Cities of “Huntsville, Bracebridge, Gravenhurst”, Freehold, Waterfront : No.