2020-Q1 Muskoka Residential Real Estate Market

The Muskoka real estate market has certainly slowed down since March 17th. As an essential service, there’s still minimal activity, but under the direction of the Ontario Real Estate Association (OREA) we are to cease face-to-face showings and open houses. We are working hard to come up with a new and innovative approaches to selling real estate in Muskoka, stay tuned.

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.

March 2020 on the other hand, as I’m sure you expected, lagged behind March of 2019. The number of new listings were down 13.2% YOY and unit sales were down 9.3% YOY. The decision from the Ontario government to declare a state of emergency was on March 17th, 2020, therefore only the last couple of weeks in March were truly affected. April and May should experience more significant declines than March, but I don’t feel that this is the end of Muskoka real estate. I believe that the market will rebound in late summer/fall. There will be pent up demand and possibly more of a desire than ever to get out of the city. I’m planning to update the statistics on a monthly basis, so come back often or call for more information.

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: Bracebridge, Gravenhurst, Huntsville (Excludes cottage, vacant land, condo and commercial properties)

Muskoka Residential Unit Sales by Month

2020 Jan/Feb Sales up 14.5% YOY

Jan/Feb 2018 – 64 sales
Jan/Feb 2019 – 62 sales
Jan/Feb 2020 – 71 sales

2020 March Sales down 9.3% YOY

March 2018 – 70 sales
March 2019 – 54 sales
March 2020 – 49 sales

Unit sales were trending up for 2020 with 14.5% more sales in Jan/Feb YOY. March had 9.3% fewer sales, resulting in Q1 up 3.4% YTD.

Muskoka Residential Average and Median Sale Price

Average Sale Price – $417,933

Median Sale Price – $379,900

2019 Q1 vs. 2020 Q1
Percentage Increase in Average Sale Price
$399,792 to $417,933


Up 4.5%

Percentage Increase in Median Price
$379,900 to $393,500

Up 3.6%

Muskoka Residential New Listings by Month

2020 Jan/Feb
New Listings – up 21.3% YOY
Jan/Feb 2019 – 89 sales
Jan/Feb 2020 – 108 sales

2020 March
New Listings – down 13.2% YOY

March 2019 – 68 sales
March 2020 – 59 sales

More listings coming to market in 2020 with an increase of 21.3% in Jan/Feb. March had 13.2% fewer properties hitting the market, net result of up 6.4% YTD.

Muskoka Residential Unit Sales vs. DOM

2020 Q1

23% fewer days to sell your property in 2020, compared to 2019. This number is likely to increase with people staying home and minimal real estate activity. The properties that are currently listed will continue to log days on market with very little activity.

Sales up 3.4% YOY and fewer days on market were indicators of a healthy market for 2020. Obviously now we need to wait and see. Unit sales should continue to trend down with minimal buyer and seller activity.

When to list

I believe that the market will rebound in late summer and fall. There will be pent up demand and possibly more of a desire than ever to live in Muskoka.

Data Source: The Lakelands Association of Realtors