2019 Market Review

Data is collected from The Lakelands Real Estate Board for single-family detached residences, both on and off water: North Muskoka (Huntsville, Lake of Bays); South Muskoka (Bracebridge, Muskoka Lakes, Gravenhurst); and the Almaguin Highlands.

 

Waterfront Sales Activity: North Muskoka (Huntsville & Lake of Bays) 

Minimum Sale Price: $169,999 | $115,000 (2018)

Median Sale Price: $715,000 | $637,500 (2018)

Maximum Sale Price:  $4,700,000* | $3,900,000 (2018)

Max Sale Price 2019* $4,700,000 was on Lake of Bays 

 

Waterfront Sales Activity: South Muskoka (Bracebridge, Muskoka Lakes, Gravenhurst)

Minimum Sale Price: $145,000 | $96,000 (2018)

Median Sale Price: $780,000 | $775,000 (2018)

Maximum Sale Price:  $13,900,000* | $6,400,000 (2018)

Max Sale Price 2019* $13,900,000 was on Lake Joseph

 

Waterfront Sales Activity: Almaguin Highlands

Minimum Sale Price: $139,000 | $70,000 (2018)

Median Sale Price: $470,000 | $399,990 (2018)

Maximum Sale Price:  $1,800,000* | $ 1,325,000 (2018)

Max Sale Price 2019* $1,800,000 was on Spring Lake 

Summary for Waterfront: All 3 market areas experienced increases in both the average sale price and median sale price. North Muskoka (Huntsville/Lake of Bays) has fewer unit sales in comparison to 2018, whereas South Muskoka experienced an increase in unit sales year over year, and the Almaguin Highlands experienced slightly fewer unit sales.

Predictions for the year ahead:  As long as inventory can support Buyer demand, we should see an active 2020. While there is Buyer demand, as a discretionary purchase, pricing well on waterfront is still crucial to sales success.  Some of the properties that sold in the fall, had been listed in the earlier part of the year, however, needed to adjust their price in order to facilitate a sale.  There is an appetite for the “cottage lifestyle”, however most Buyers are reluctant to overpay, therefore Sellers need to be mindful of their pricing.

 


 

Off-Water Residential Sales Activity: North Muskoka (Huntsville & Lake of Bays)

Minimum Sale Price: $135,000 | $97,500 (2018)

Median Sale Price: $383,000 | $360,000 (2018)

Maximum Sale Price: $1,200,000 | $935,000 (2018)

 

Off-Water Sales Activity: South Muskoka (Bracebridge, Muskoka Lakes, Gravenhurst)

Minimum Sale Price: $125,000 | $95,000 (2018)

Median Sale Price: $385,000| $357,500 (2018)

Maximum Sale Price: $1,050,000| $1,099,900 (2018)

 

Off-Water Sales Activity: Almaguin Highlands

Minimum Sale Price: $80,000| $52,000 (2018)

Median Sale Price: $245,000 | $215,000 (2018)

Maximum Sale Price: $660,000 | $590,000 (2018)

 

Summary for Off-Water homes: Both the average sale price and median sale price in all 3 market areas experienced increases year over year. Unit sales in North Muskoka (including Huntsville/Lake of Bays) were higher compared to 2018, whereas South Muskoka and Almaguin experienced fewer unit sales year over year.

Predictions for the year ahead: New construction, particularly in Huntsville, continues to fuel activity in the residential markets.  We are seeing more and more people moving to Muskoka in pursuit of a different lifestyle.  Those moving to the area are usually able to take equity from their homes in the city, to put towards a home in Muskoka (off-water) where it can go a lot further. We don’t expect this “move to Muskoka” trend to slow down in 2020.