Muskoka Real Estate Market Update – September 2022
The 2022 Muskoka Real Estate Market remains balanced for September. This means the number of homes on the market equals the demand or number of buyers looking. The residential market remains flat with an increase of .4% and 1.5% in the average and median sale price for a Muskoka home. The Muskoka cottage market realized an increase in both average and median sale prices at 24.8% and 34.8%, respectively. Appears that the higher-priced cottages are moving more than the lower. Over 23% fewer sales in September compared to August 2022. The cottage market is typically slowing as we enter fall.
The number of days on the market is slowly rising. Muskoka homes are taking an average of 38 days to sell in September and cottages taking on average 41 days to sell. The sale-to-listing price ratio for a Muskoka home is 97.2%, and a Muskoka cottage is 95.3% both representing a narrower gap than in August 2022.
Overall, this balanced market is better for the buyers, but the sellers have maintained a healthy value for their home or cottage in Muskoka, still above pre-pandemic values and more in line with 2021 values.