April 2021 Update – Muskoka Waterfront Real Estate Market

Muskoka Waterfront Unit Sales by Month

2021 April Unit Sales Up 10.2% YOY

April 2020 – 78 sales

April 2021 –86 sales

Unit sales still strong through April despite the stay at home orders. The demand continues to be high levels for your Muskoka waterfront property. Well staged and well priced listings are drawing significant 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 and an opinion of value on your Muskoka property feel free to reach out anytime.

Muskoka Waterfront New Listings by Month

2021 April New Listings – Up 148% YOY

April 2020 – 52 Listings
April 2021 – 129 Listings

The market is tilted toward sellers having the advantage still in Muskoka waterfront with a number of new listings to number of sales ratio of 73.4%. The market is in need of more new listings to cool the market further. The market is moving slowly toward a more balanced state as the supply progressively catches up to the demand. As we continue further into Q2 and enter into the summer weather time will tell if the  market will move toward the seller advantage or continue to balance even more.

For personalized insights please feel free to reach out about your unique situation.

Muskoka Waterfront Average and Median Sale Price

2020 Year End versus End of April 2021

Waterfront – UP 13.9%

2021 YTD Average Sale Price – $1,565,953

2021 YTD Median Sale Price – $1.180,000

The long upward trend in average sale price for the first time in many months has plateaued slightly this month, potentially showing a slight cooling in the market. As listings are becoming more available and demand remains high, average sale price should continue to rise if there are no changes to the current COVID-19 measures driving people from the city and into rural areas, the most desirable being Muskoka. It is clear through rental market availability, the desirability of travel options and the lack of tourism abroad has Canadians looking inward toward Ontario for travel and relaxation options. Muskoka has always been and it strongly becoming more of a hub for summer enjoyment within the province. Expect demand to continue.

It is increasingly common for Muskoka waterfront listings to sell between from 5% – 30% over the going ask price if staged and priced correctly. The rush to acquire a desirable piece of Muskoka waterfront before summer looms in the near future and buyers looking to close prior to the end of the summer will need to begin making deals in the near future. Time will tell if the market can supply enough properties to meet demand. If not enough supply can be made available, be sure to continue to watch average sale prices rise as the law of supply and demand dictate the direction of values in the Muskoka waterfront market will be trending to record highs.

Increase in Average Sale Price – UP 13.9%

Dec 31st 2020 vs 2021 YTD

$1,348,372 to $1,565,953

Percentage Increase in Median Price – UP 38.8%

Dec 31st 2020 vs 2021 YTD
$850,000 to $1,180,000

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

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