June Market Spotlight: Muskoka & Surrounding Area

Data is collected from The Lakelands Real Estate Association for single-family detached residences, both on and off water in the Muskoka and Almagquin area. Only data sourced from MLS is used.

 

WATERFRONT REAL ESTATE SALES ACTIVITY

 

Huntsville & Lake of Bays Area

Compared to 2018:

  • 50% decrease in number of sales
  • Increase of 4% in average sale price
  • 5 more days on market
  • Sale to list price 2% higher

Take away: A pretty significant decrease in the amount of monthly sales compared to 2018. Majority of sales remain in the $500K-$1M price point on the smaller and medium size lakes. Last month (May) there were 21 sales.  Sales over $1M have slowed this month. Decrease in the number of sales could be the result of a correction happening in the market. Waterfront is a discretionary purchase, and therefore many Buyers are willing to wait for the right one. Properties that are selling are selling for close 100% of list. The highest reported sale for June 2019 was on Bigwin Island, Lake of Bays – selling for over asking at $2,245,000 (102% of list price).

2019: 2 sales under $499K;  10 sales between $500K-$1M; 1 sales over $1M;  2 sales over $2M

2018: 7 sales under $499K; 17 sales between $500K-$1M; 4 sales over $1M;  2 sales over $2M; 1 sale over $3M

 

Bracebridge/Muskoka Lakes/Gravenhurst

Compared to 2018:

  • 1 more sale compared to last year
  • 22% increase in average sale price
  • 8 more days on market
  • List to sale price is 1% lower

Take away: Contributing to 22% increase in average sale price were the 5 sales over $3M in 2019. $9,300,000 was the highest recorded sale in June 2019 on Lake Rosseau. Inventory levels are increasing sales activity is consistent. Compared to May – we saw in increase in new listings, 8 more average days on market, and a slightly lower list to sale price ratio.

2019: 15 sales under $499K; 13 sales between $500K-$1M; 12 sales over $1M; 2 sales over $2M; 2 sales over $3M; 2 sales over $4M; 1 sale over $9M

2018:  10 sales under $499K; 21 sales between $500K-$1M; 9 sales over $1M;  5 sales over $2M; 1 sale over $3M

 

Almaguin Highlands Area

Compared to 2018:

  • 6 fewer sales
  • 5% increase in average sale price
  • 15 more days on market
  • List to sale price 2% lower

Take away: The highest sales reported for June were on Grass Lake and Fisher (Perbeth) both selling for $799K.  Average sale price continues to rise month over month.  The Almaguin Highlands area, when compared to Muskoka, has offered Buyers the opportunity to stretch their dollars further.  We are now seeing more sales in the higher end ($500K-$1M). Waterfront market is changing here!

2019:  6 sales under $499K; 8 sales between $500K-$1M;

2018:  11 sales under $499K; 8 sales between $500K-$1M; 1 sale over $1M

 

RESIDENTIAL OFF-WATER REAL ESTATE SALES ACTIVITY

 

Huntsville & Lake of Bays

Compared to 2018:

  • 6 more sales
  • 14% decrease in average sale price
  • 24 fewer average days on market
  • List to sale price 5% less

Take away: We experienced around 50% more sales activity in the price points $300K-399K and $400K-499K compared to 2018. The lower average sale price is the result of fewer sales over $600K compared to 2018. Compared to last month (May) there were 6 fewer listings to hit the market along with 14 fewer sales.  Residential off-water continues to be a competitive one for properties priced well.

2019: 4 sales under $299K; 10 sales $300K-$399K10 sales $400K-$499K; 4 sales $500K-$599K; 2 sales $600K-$799K

2018: 5 sales under $299K; 5 sales $300K-$399K; 4 sales $400K-$499K; 4 sales $500K-$599K; 5 sales $600K-$799K; 1 sale $799K-$899K

 

Bracebridge/Muskoka Lakes/Gravenhurst

Compared to 2018:

  • 9 fewer sales
  • 12% increase in average sale price
  • 12 fewer days on market
  • List to sale price 1% higher

Take away: Fewer listings hit the market compared to last month (May) along with fewer sales. Despite the lower numbers in terms of units listed and sold, the residential market continues to hold its own and remain consistent in sales activity. With an average of 22 days on market coupled with a 98% list to sale price, these stats support that well kept, well priced properties are moving.

2019: 9 sales under $299K; 9 sales $300K-$399K; 6 sales $400K-$499K; 3 sales $500K-$599K; 1 sale over $1M

2018: 14 sales under $299K; 11 sales $300K-$399K; 9 sales $400K-$499K; 1 sale $500K-$599K; 2 sales $600K-$800K

 

Almaguin Highlands

Compared to 2018:

  • Same number of sales
  • 27% increase in average sale price
  • Significantly fewer days on market
  • List to sale price ratio slightly less

2019: 10 sales under $299K; 9 sales $300K-$399K; 3 sales $400K-$499K;  1 sale $500K-$599K

2018: 17 sales under $299K; 5 sales $300K-$399K; 1 sale $400K-$499K

 

For more information related to a specific market area please contact me directly at 705-788-4894 or [email protected]