June 2021 Update - Muskoka Residential Real Estate Market

July 7, 2021

June 2021 Muskoka Residential Real Estate Market Update

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

Year to Date, the Muskoka residential real estate market is up 29.4% 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. 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. The number of new listings vs number of units sold ratio YTD in Muskoka residential real estate market is 76% which shows the 15% decrease in the severity of the sellers market since the start of 2021. This statistic means it is still a strong sellers market but supply is progressing and is helping cool the market slowly. This month we have seen a plateauing in the type of market balancing at the 75% Listed to Sold Ratio, however average sale price continues to rise as we go month to month. In this post we will analyze the June 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.

If considering selling or buying Muskoka Real Estate, 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.
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 June 2021, 76% Sold to List

Muskoka Residential Unit Sales by Month

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

2021 June Unit Sales Up 29.2% YOY

June 2020 – 82 sales

June 2021 – 106 sales

Unit sales have trended significantly upwards in Muskoka despite the COVID-19 pandemic and the lockdown restrictions up 76% YoY in the same 6 month time frame (Jan – June)

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, YoY in June number of sales up 30%. If you would like more information & an opinion of value on your Muskoka property feel free to reach out anytime.

Muskoka Residential Unit Sales June 2021, Up 29.2% YTD

Muskoka Condo Unit Sales by Month

2021 June Condo Unit Sales UP 5% YOY

June 2020 – 19 sales
June 2021 – 20 sales

The condo market in Muskoka has attracted attention this year. Year over year this month vs June 2020 it is a 5% gain. Throughout the year it will be interesting to see how the condo market in Muskoka develops. A significant influx of demand from buyers from the GTA looking to move into the area will likely bring more experience in the condo market move north taking advantage of work from home situations. More condominium developments are beginning to progress giving evidence that the condo market in Muskoka will likely expand in the future as these projects are completed and more seasoned condominium developers and owners adjust their attention to Muskoka markets for new development potential.

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

Muskoka Condo Unit Sales June 2021, Up 5% YOY

Muskoka Residential New Listings by Month

2021 June New Listings – Up 16.5% YOY

June 2020 – 109 Listings
June 2021 – 127 Listings

It is still a sellers market in Muskoka residential as summer approaches. Average sale price has risen this past month 2% in Residential plateaued at a price of $659,035. It will be interesting to see how the market balances the supply and demand as we continue further into the summer time.

Muskoka Residential New Listings June 2021, YTD Up 45% — Muskoka Residential New Listings June 2021

Muskoka Condos New Listings by Month

2021 June New Listings – Down 28.9% YOY

June 2020 – 38 Listings
June 2021 – 27 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. Lower amount of new listings this month YoY.

Muskoka Condo New listings June 2021, Up 4.5% YTD — Muskoka Condo New Listings June 2021

Muskoka Residential & Condo Average/Median Sale Price

2021 Residential YTD – UP 31.4%

2021 Average Sale Price – $659,035

2021 Median Sale Price – $621,900

Average Sale Price End of 2020 VS 2021 YTD
$501,324 to $648,778 → Up 31.4%

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

$454,950 to $621,900 → UP 36.7%

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. 31.4% 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 19,9%

2021 Average Sale Price → $472,411 Up 19.9%

2020 Year end – $393,904

2021 Median Sale Price – $438,000 Up 29.4%

2020 Year end – $338,522

Muskoka Residential Average Sale Price June 2021, Up 31.4% YTD — Muskoka Residential Average Sale Price June 2021.

Muskoka Condo Average Sale Price June 2021, Up 19.9% YTD — Muskoka Condo Average Sale Price June 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

June 2021 Update – Muskoka Residential Real Estate Market