March 2021 Update – Muskoka Waterfront Real Estate Market

Muskoka Waterfront Unit Sales by Month

2021 March Unit Sales Up 252.6% YOY

March 2020 – 19 sales

March 2021 – 67 sales

Unit sales very strong in Muskoka despite the COVID-19 pandemic lockdowns, as we begin a new month long stay at home order this month will be interesting to see how the market reacts to the new policy. The demand continues to be at peak levels for your Muskoka waterfront property. Listings even at this time of year are still drawing a lot of interest from buyers looking in the area. If you are thinking of listing your home now is 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 March New Listings – Up 3.3% YOY

March 2020 – 92 Listings
March 2021 – 95 Listings

The market is significantly tilted toward sellers having the advantage still, a fresh supply of quality listings have begun to appear on the market lately which has satisfied a few buyers. The market is in need of more new listings to satisfy the demand in the area. It will be interesting to see how the market balances the supply and demand as we move to continue into Q2 and enter into the summer weather  where more listings usually begin to appear on the market as the waterfront shoreline and property can be more easily navigated and seen without the snow.

Muskoka Waterfront Average and Median Sale Price

2020 Year End versus End of March 2021

Waterfront – UP 16%

2021 YTD Average Sale Price – $1,564,456

2021 YTD Median Sale Price – $1.175,000

A steep upward trend in average sale price is expected during a market such as this. As listings are scarce and demand remains at an all time high, average sale price will continue to rise if no change occurs in policy. It is clear through rental market availability, the desirability of travel options and the lack of tourism abroad has Canadians looking toward Muskoka and has become the go to place for relaxation this upcoming summer.

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 2020 – 2021 Up 16% YTD

$1,348,372 to $1,564,456

Percentage Increase in Median Price. UP 38%

2020 – 2021
$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

2020 Year in Review: Muskoka Cottage Real Estate Market

2020 Year in Review: Muskoka Residential Real Estate Market

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