Significantly fewer sales for both residential and waterfront properties. Waterfront properties increased by 22% month over month for March but declined 55% comparing March 2022 to March 2021. Keep in mind prime cottage selling typically starts in May. YTD there have been 64 sales for waterfront properties compared to 121 from Jan – Mar 2021.

Residentially sales jumped 83% month over month for March, down 23% comparing March YOY. YTD there have been 162 home sales compared to 189 from Jan – Mar 2021.

Both residential and waterfront properties have seen a large decline in new listings, so obviously that contributes to the lower unit sales mentioned above, but the average sale price continues to rise even after record-breaking numbers for 2021.

The condo market is holding relatively steady with 8 fewer condo sales in Muskoka for Mar 22, compared to Mar 21. YTD there have been 40 condo sales and from Jan – Mar 21 there were 48. The average sale price remains fairly steady as well with an increase of 4% YOY.

2019 – 35 unit sales ÷ 135 new listings = 30%
2020 – 42 unit sales ÷ 153 new listings = 27%
2021 – 121 unit sales ÷ 152 new listings = 80%
2022 – 64 unit sales ÷ 104 new listings = 62%

Even with fewer new listings in 2022, the ratio between new listings and units sold indicates we are still in a seller’s market. Keep in mind that this is generally a slower time of year for cottage sales, with sales typically increasing substantially from May forward.

2019 – 126 sales ÷ 189 new listings = 67%
2020 – 136 sales ÷ 202 new listings = 67%
2021 – 189 sales ÷ 254 new listings = 74%
2022 – 162 sales ÷ 197 new listings = 82%

With the fewer new listings the ratio between new listings and units sold is higher, even more of a sellers market.