June 2021 Update – Muskoka Waterfront Real Estate Market

Muskoka Waterfront Unit Sales by Month

2021 June Unit Sales Up 42% YOY

June 2020 – 157 sales

June 2021 –91 sales

Unit sales down through June Year over Year but overall YTD sales on the waterfront up 30.4%. The demand continues to be at 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 June New Listings – Down 14.8% YOY

June 2020 – 168 Listings
June 2021 – 143 Listings

The market is tilted toward sellers having the advantage still in the Muskoka waterfront real estate market with the number of new listings to number of sales ratio of 68.4%. The market is moving slowly toward a more balanced state (which would be 55%) as the supply progressively catches up to the demand. This is the coolest the market has been in 13 months but there seems to be a slight increase in activity into the first week of July. Prices have plateaued last month but are on the rise 3% through June.  Expect prices to continue as the unprecedented inflation will guide prices higher until it has saturated the market.

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 June 2021

Waterfront – UP 20.1%

2021 YTD Average Sale Price – $1,620,248

2021 YTD Median Sale Price – $1.165,000

The long upward trend in average sale price has continued bolstering another 3% return on the waterfront just through the month of June. As listings are becoming more available and demand remains high, average sale price should continue to rise. 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 and prices to reflect an all time high in Muskoka Real Estate.

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 end of summer 2021 looms in the near future and buyers looking to close prior to the end of the summer will need to begin making deals. 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 17.1%

Dec 31st, 2020 VS 2021 YTD

$1,348,372 to $1,587,081

Percentage Increase in Median Price → UP 38.2%

Dec 31st 2020 vs 2021 YTD
$850,000 to $1,175,000

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