July 2021 Update – Muskoka Residential Real Estate Market



August 11, 2021

July 2021 Muskoka Residential Real Estate Market Update

 

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

 

Year to Date, the Muskoka residential real estate market is up 30.2% YTD since the start of 2021. Summer 2021 is well underway as the golf, boating and cottage season is in full swing. The sellers market in Muskoka is still strong in residential at 78% listed to sold ratio. There has been an uptick in number of new listings in Muskoka this year over last year 45% more listings so far YTD in 2021 vs 2020. Average sale price has fallen $7000(1.2%) this month giving credit to the plateauing in the market theory. In this post we will analyze the July 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 List Ratio July 2021, 78% listed to sold ratio

Muskoka Residential Unit Sales by Month

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

2021 July Unit Sales DOWN 29.2% YOY

 

July 2020 – 105 sales

July 2021 – 74 sales

 

Unit sales have trended significantly upwards in Muskoka despite the COVID-19 pandemic up 42% YoY in the same 7 month time frame (Jan – July) 

The demand continues to be high for your Muskoka residential home.  A hot year 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 July 2021 vs 2020 number of sales down 29.5% 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 July 2021, Up 42% YTD

Muskoka Condo Unit Sales by Month

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

2021 July Condo Unit Sales DOWN 15% YOY

 

July 2020 – 20 sales
July 2021 – 17 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 July 2021, Up 83% YTD

Muskoka Residential New Listings by Month

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

2021 July New Listings – No change YOY

 

July 2020 – 88 Listings
July 2021 – 88 Listings

 

It is still a sellers market in Muskoka residential as the fall listing spree looms near. Average sale price has fallen this past month 1% in Residential plateauing at a price of $652,799. Stay tuned in future months to see how the market balances the supply and demand as we continue further into 2021.

Muskoka Residential New Listings July 2021, Up 45% YTD
Muskoka Residential New Listings July 2021

Muskoka Condos New Listings by Month

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

2021 July New Listings – Up 12.9% YOY

 

July 2020 – 31 Listings
July 2021 – 35 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. Stay tuned as more condo developments are underway and in coming months/years drastically change the landscape of Muskoka cottaging.

Muskoka Condo New Listings July 2021, Up 6% YTD
Muskoka Condo New Listings July 2021

Muskoka Residential & Condo Average/Median Sale Price

muskoka-residential-price-increase

2021  Residential YTD  – UP 30.2%

 

2021 Average Sale Price – $652,799

2021 Median Sale Price – $610,000

 

 

Average Sale Price End of 2020 VS 2021 YTD
$501,324 to $652,799  →  Up 30.4%

 

 

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. 30.4% 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.  Expect this market to continue. The math shows prices are continuing to rise due to the demand in Muskoka and the inflation coming into full swing.

 

Condominium

2021 YTD Average Sale Price – UP 28.8%

 

2021 Average Sale Price → $507,400  

2020 Year end – $393,904

 

2021 Median Sale Price – $436,000 Up 28.7%

2020 Year end – $338,522

Muskoka Residential Average Medican Sale Price July 2021, Up 30.2%
Muskoka Residential Average Medican Sale Price July 2021
Muskoka Condo Average Median July 2021, Up 28.8% YTD
Muskoka Condo Average Median July 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