March Market Spotlight: Muskoka Area

Data is collected from The Lakelands Real Estate Association for single-family residences, both on and off water in the Huntsville, Lake of Bays, Bracebridge and Muskoka Lakes area.

 

WATERFRONT REAL ESTATE SALES ACTIVITY

 

Huntsville & Lake of Bays

 

The take away: The difference year over year in terms of average list price, is relative to the number of listings sold in a certain price point. In 2018, 6 of the 9 sales were over 900k, compared to 2019 where the 3 sales were between 500-700k. We did see a slightly higher sale to list ratio in 2019, along with fewer days on market, most likely the result of fewer inventories in a more competitive price point.  Our late winter this year has really pushed our market back, however, we are anticipating more properties to hit the market as the snow and ice melt. Bring on Spring!

 

Bracebridge & Muskoka Lakes

 

The take away: 3 of the 7 sales in March were within the price point of $400-$525k,1 at $1.6 and 1 a $4.5. We did see a slightly higher sale to list ratio this March, along with slightly more days on market. Sales compared to this time last year are less than half. Our long winter season has really pushed our market back, however, we are anticipating more properties to enter the market as the snow and ice melt. Bring on Spring!

 

OFF-WATER REAL ESTATE SALES ACTIVITY FOR SINGLE-FAMILY RESIDENTIAL

 

Huntsville & Lake Bays

 

The take away: Average sale price is up 6% compared to March 2018. 4 fewer sales, a slight increase in days on market, and an increase in sale to list ratio.  The residential market continues to be a competitive one especially in certain price points.

Representing the majority of sales:

$350k-$399k – 8 sales
$400k-$599k – 5 sales
$500k-$599k – 6 sales

Highest sale price in March was $725,000 with lowest at $90,000.

 

Bracebridge & Muskoka Lakes

 

The take away: Average sale price is up 8% compared to March 2018. 4 fewer sales, equal days on market, and a slight decrease in the sale to list ratio.  The residential market continues to be a competitive one especially in certain price points.

Representing the majority of sales:

$500k-$599k – 6 sales
$400k-$499k – 4 sales

Highest sale price in March was $725,000 with lowest at $75,000.

 

For a more detailed report for a certain area or price point please don’t hesitate to reach out.