Muskoka Real Estate Market Update – November 2022
The Muskoka real estate market remains balanced in the second half of 2022. However, the dollar volume and number of unit sales are off significantly — $ volume is down 31.5%, and unit sales are down 37.2% for January – November YOY. The average sale price, however, is up 9% for January – November YOY. This increase is the result of the market’s peak in early 2022. In November, however, the average sale price is down 36.5% from the peak in April this year and down 13.5% for November compared to October. The median price of a single-family property is down almost 6.5% and 25.3% from the peak earlier in the year. Looking at either average or median sale prices, the decline in the market this year is fairly significant.