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We are now past the halfway point of summer and have almost caught up to last years numbers. The year started slowly with the market being over 30% down in sales volume from the previous year. Now, a few short months later we are only 11% down in number of sales and only 6% down in sales volume. The market is remaining strong and by the end of next month we should surpass last years numbers.
The average residential home price for Muskoka/Haliburton remains approximately 10% below last year and the buyers now know that this is the floor and time to buy. The SNL (solds to new listing percentage) indicates that it's still a buyers market at approximately (1771 new listings, 612 solds) 34% on average across Muskoka/Haliburton, this includes both residential and recreation properties. This is keeping the market value below last years numbers. Lake of Bays is one area where the market is more in the buyers favour with an SNL of 22%, this is primarily because Lake of Bays relies mostly on the recreational (waterfront) market.