August 2021 Update – Muskoka Residential Real Estate Market



September 21, 2021

August 2021 Muskoka Residential Real Estate Market Update

Welcome, thank you for checking out the Muskoka residential real estate market update for August 2021.

Year to Date, the Muskoka residential real estate market is up 23.1% YTD since the start of 2021.  The sellers market in Muskoka is still strong in residential at 80% listed to sold ratio 2% higher than the previous month.  New listings YTD up 32.3% compared to 2020. In this post we will analyze the August trends in the residential side of the Muskoka real estate market. For the Waterfront section please check out the Market Statistics section of our blog. In this market you are slowly seeing offer dates begin to phase out, they are still used on hot desirable properties but as the market receives more supply there will be more opportunity for buyers.

The Aben Team and all members are strongly committed to providing the safest environment and following all protocols to protect and respect our clients, and the clients of other realtors buying and selling real estate in Muskoka during these uncertain times. The past year has seen an unprecedented seller’s market develop.

If it is time to list your property, trust The Aben Team to have your home professionally staged, professionally photographed, listed, and sold.

Looking to purchase/invest in the Muskoka area  we would be happy to connect and have a conversation about your unique situation. For the most up to date information on the area feel free to reach out anytime.

As you think of buying or selling Muskoka Real Estate, the Aben Team is here to make it easy.

John Aben, Broker — john@abenteam.com or call 705-788-4770.
Mark Aben, Broker — mark@abenteam.com or call 705-788-4388.
Email: info@abenteam.com

Data based on the following: Bracebridge, Gravenhurst, Huntsville (Excludes waterfront, vacant land, condo and commercial properties)
Muskoka Residential Sold to Listed Ratio August 2021, 80%

Muskoka Residential Unit Sales by Month

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

2021 August Unit Sales DOWN 20.5% YOY

August 2020 – 93 sales
August 2021 – 74 sales

Unit sales have trended significantly upwards in Muskoka despite the COVID-19 pandemic up 29.9% YoY in the same 8 month time frame (Jan – August) 

The demand continues to be high for your Muskoka residential home.  Last year in Muskoka Residential has been blown away by this years numbers where the same returns are keeping investors on the edge of their seats. YoY in August 2021 vs 2020 number of sales down 20.5% this month. If you would like more information & an opinion of value on your Muskoka property feel free to reach out anytime.

Muskoka Residential Unit Sales August 2021, Up 3% YTD

Muskoka Condo Unit Sales by Month

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

2021 August Condo Unit Sales DOWN 0% YOY

August 2020 – 20 sales
August 2021 – 20 sales

If interested in more details on the up and coming condo market please reach out
Connect with the Aben Team for an opinion of value and personalized insights into your unique situation.

Muskoka Condo Unit Sales August 2021, Up 63% YOY

Muskoka Residential New Listings by Month

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

2021 August New Listings –Down 11.7% YOY

August 2020102 Listings
August 2021 – 90 Listings

It is still a sellers market in Muskoka residential as the fall listing spree looms in the near future. Average sale price has fallen this past month in Residential plateauing again this month to a price of $652,415. Stay tuned in future months to see how the market balances the supply and demand as we continue further into the fall of 2021.

Muskoka Residential New Listings August 2021, Down 11.7%
Muskoka Residential New Listings August 2021, Down 11.7%

Muskoka Condos New Listings by Month

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

2021 August New Listings – Up 42% YOY

August 2020 – 19 Listings
August 2021 – 27 Listings

New condo development talk is stirring interest from experienced owners from around the GTA. This condo market has emerged as the demand for maintenance and care free Muskoka lifestyles on the water have become a more attractive product for buyers looking to experience the Muskoka lifestyle without the snow removal and maintenance of a freehold property.

Muskoka Condo New Listings August 2021, 9.7 YOY
Muskoka Condo New Listings August 2021

Muskoka Residential & Condo Average/Median Sale Price

muskoka-residential-price-increase

2021  Residential YTD  – UP 23.1%

2021 Average Sale Price – $652,415
2021 Median Sale Price – $610,000

Average Sale Price End of 2020 VS 2021 YTD
$501,324 to $652,415  →  Up 23.1%

Percentage Increase in Median Price, End of 2020 VS 2021 YTD

$454,950 to $610,000 → UP 34.4%

High demand for a home in Muskoka is driving up the median price in Huntsville, Bracebridge & Gravenhurst significantly this year. Great news for anyone invested in residential real estate, also great news for anyone looking to list their home. 23.1% increase in average sale price YTD in the Muskoka residential real estate market. Expect this market to continue. The math shows prices are stabilizing around the 650,000 range. The sellers market continues into the fall as demand remains stable and prices stabilize also. 

Condominium

2021 YTD Average Sale Price – UP 26.3%

2021 Average Sale Price → $497,588
2020 Year end – $393,904

2021 Median Sale Price – $434,950 Up 28.5%
2020 Year end – $338,522

Muskoka Residential Average Medican Sale Price August 2021, Up 23.1%
Muskoka Residential Average Medican Sale Price August 2021
Muskoka Condo Average Median August 2021, Up 26.3%
Muskoka Condo Average Median August 2021

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