April 2021 Update – Muskoka Residential Real Estate Market

Muskoka Residential Unit Sales by Month

2021 April Unit Sales Up 212.5% YOY

April 2020 – 32 sales

April 2021 – 100 sales

Unit sales have trended significantly upwards in Muskoka despite the COVID-19 pandemic and the lockdown restrictions. With the new stay at home orders coming to a close soon we await how the market will react to the loosening of the movement restrictions. This months Year over Year statistic is to be taken lightly as this time last year peak levels of fear had stricken the population crippling the activity in the market for a month or so in 2020, in 2021 it is a different story and activity is high regardless of stay at home orders.

The demand continues to be high for your Muskoka residential home. The data shows a slight slowing of average sale price increases which is to be expected. Average sale prices have slightly plateaued within the last month. This could provide the tired buyers an opportunity to secure a home going forward. If you are thinking of listing your home now is still a great time. If you would like more information and an opinion of value on your Muskoka property feel free to reach out anytime.

Muskoka Condo Unit Sales by Month

2021 April Condo Unit Sales UP 216.6% YOY

April 2020 – 6 sales
April 2021 – 19 sales

The condo market in Muskoka has attracted attention and spiked in activity this month. Year over year this month vs April 2020 it is a 216.6% gain over last year and throughout the year it will be interesting to see how the condo market in Muskoka develops as the significant influx of demand and buyers looking to move into the area will likely bring more experience in the condo market as buyers from the GTA move north taking advantage of work from home situations.

Connect with the Aben Team for an opinion of value and personalized insights into your unique situation.

Muskoka Residential New Listings by Month

2021 April New Listings – Up 264.9% YOY

April 2020 – 37 Listings
April 2021 – 135 Listings

It is still a sellers market in Muskoka residential midway through Q2. As new listings have arrived on market buyers are now getting a slight opportunity. First month in 2021 that the market has plateaued in average sale price giving a slight edge back. to the buyers. By the math the sellers market is cooling slightly in residential moving to a 74% listed to sold ratio in 2021 YTD.

It will be interesting to see how the market balances the supply and demand as we continue further into Q2 and  into the summer time.

Muskoka Condos New Listings by Month

2021 April New Listings – Up 153.8% YOY

April 2020 – 13 Listings
April 2021 – 33 Listings

The condo market in Muskoka is stirring this year as demand filters into the area from regions with more experienced condo owners. This could be a sign of an emerging condo market beginning to take hold.

Muskoka Residential & Condo Average/Median Sale Price

2021  YTD  – UP 29.8%

2021 Average Sale Price – $650,660

2021 Median Sale Price – $625,000

Average Sale Price End of 2020 vs 2021 YTD
$501,324 to $650,660 – Up 29.8%

Percentage Increase in Median Price. UP 37.4%

2020 – 2021
$454,950 to $625,000

High demand for a home in Muskoka is driving up the median price in Huntsville, Bracebridge & Gravenhurst. Great news for anyone invested in residential real estate, also great news for anyone looking to list their home. 29.8% increase in average sale price YTD in Muskoka residential real estate market. The residential real estate market is active as can be, there is an influx of Canadians looking to move into Muskoka to take advantage of remote work and the slower paced Muskoka lakeside lifestyle. As summer approaches quickly the buyers looking to enjoy the summer in Muskoka are losing precious time to secure their Muskoka home/retreat.  Expect the market to continue unless something with COVID-19 policy changes.

Condominium

2021 YTD Average Sale Price – UP 16.2%

2021 Average Sale Price – $457,568  Up 16.2%

2020 Year end – $393,904

2021 Median Sale Price – $439,000 Up 29.6%

2020 Year end – $338,522

Thank you for reading, we hope this information has been useful to your unique situation.

For a more in depth review of the past year check out our Year in Review statistical posts, by clicking here

2020 Year in Review: Muskoka Cottage Real Estate Market

2020 Year in Review: Muskoka Residential Real Estate Market

If you would like more information, happy to connect 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:
Residential =Region: Muskoka, Cities of  “Huntsville, Bracebridge, Gravenhurst”, Freehold, Waterfront : No.
Waterfront =Region: Muskoka, Freehold, Waterfront : Yes