Muskoka Real Estate Market Update – September 2023
The Muskoka Cottage Market (waterfront) for September sees a slight increase in Average and Median sale price month-over-month Average price is up 13% (August 23 = $1,646,850, September 23 = $1,867,564) and Median price is up 6% (August 23 = $1,225,500, September 23 = $1,300,000). The waterfront market continues to hover around a Buyers market with 135 new listings and 47 sales, creating a sales-to-list ratio of 35%, virtually unchanged from August 23 (Balanced market 35%-55% Sold-to-List Ratio). Surprisingly the Average and Median sale prices change minimally year-over-year with a slight decrease of 2% and 6% respectively.
The Muskoka Residential (non-waterfront) market sees little change month-over-month. With 136 new listings in September and 56 sales, creating a sales-to-list ratio of 41% (August 23 = 43%). The average and median sale price from August to September sees a decrease of 10% and 16% decrease respectively. The average and median sale price is essentially unchanged year-over-year with only a $12 increase in Average price from September 2022.
The total dollar volume for Cottage and Residential YTD has changed very little from 2022. Jan-September 2022 = $1,004,727,420 compared to Jan-September 2023 = $1,014,918,833. Only a 1% difference.
