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New Year, New Home?
Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put The start of a new year always compels people to take a fresh look at their goals, from health and career to relationships and finance. But with historically low mortgage rates, increased home sales and price growth, and a tight housing inventory, the time is right to also make some homeownership resolutions for 2021. Home buyers, is this the year you work to improve your credit score, pay down some debt, or save for a down payment? Home sellers, we’ve laid out plans for you to get top…
December 2020 Market Spotlight
DECEMBER MARKET SPOTLIGHT MUSKOKA All data collected here is representative of single family detached dwellings both on and off water in the South Muskoka and North Muskoka areas. Average sale prices for the month of December were up across Muskoka for both waterfront and off-water detached single family dwellings. The highest recorded off water sale for December in North Muskoka was $1,750,000 with the lowest sale at $380,000; while the highest recorded sale in South Muskoka was $633,000 with the lowest sale at $263,000. The highest recorded waterfront sale for December in North Muskoka was $1,800,000 on…
Ways to Give Back to Our Local Community This Holiday Season
This year has demonstrated, perhaps more than ever, the importance of our family, friends, neighbours, and community. It truly “takes a village” to keep a community functioning effectively, whether that’s by keeping our waterways clean, feeding the hungry, teaching our kids, or supporting small businesses. With the holidays right around the corner, December offers the perfect opportunity to give back to the place we call home. You might want to focus your efforts near home, expand to our larger community, or even help support the people closest to you. Whether you’re passionate about a particular cause or just want…
November Market Spotlight
NOVEMBER MARKET SPOTLIGHT MUSKOKA All data collected here is representative of single family detached dwellings both on and off water in the South Muskoka and North Muskoka areas. Average sale prices for the month of November were up 29-35% across Muskoka for both waterfront and off-water detached single family dwellings. Average sale prices for off-water dwellings were sitting above $500,000 with waterfront sitting above $1,000,000. The highest recorded sale for November in North Muskoka was $3,000,000 on Mary Lake; while the highest recorded sale in South Muskoka was $3,999,000 on Lake Joe. Increasing average sale prices coincide with fewer days on…
Muskoka Market Report to Year to Date | Jan – Oct 2020
Presented by Chris Kapches, President/CEO Chestnut Park Real Estate In 2020 we have witnessed the first government-induced recession. In an effort to protect the health and safety of its citizens, the Ontario provincial government, and others throughout the world, shut down the economy. This process began in March, and in various degrees, it continues to this very day. These shutdowns were, of course, a reaction to the coronavirus and the world-wide pandemic. Interestingly, the shutdown of the economy, the physical and psychological effects of the pandemic, and ultimately the government’s efforts to assist those negatively and economically impacted…
A Strong Housing Market Expected to Continue into 2021
Circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages might have made you assume that the housing market would lose steam, but there is plenty of evidence to the contrary. As Canadian Real Estate Association (CREA) senior economist, Shaun Cathcart noted, “records [are continually] being broken” in the residential property market.1 Indeed, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last into the new year. TD Bank Group Economist Rishi Sondhi predicts that high home prices will persist for the…
April Market Spotlight Muskoka
APRIL MUSKOKA MARKET DATA WATERFRONT REAL ESTATE SALES ACTIVITY: Huntsville and Lake of Bays Area Compared to April 2019: Increase in Ave. Sale $ (see notes) 1 more new listing compared to 2019 1 sale Significantly more days on market (consideration must me given to the fact there was only the one sale) Decrease in list to sale price Sales Data: With only the one sale, we really cannot compare numbers year over year. We had 21 new listings in March hit the market, however, strict showing protocols and encouragement from the the Government to stay at home, has…
1st Quarter Market Spotlights for Muskoka & Almaguin
1st Quarter sales statistics for January, February and March 2020 With the exception of the Huntsville/Lake of Bays Waterfront market we experienced an increase in average sales prices in all three market areas, for both on and off water single family homes. While there was still sales activity in March, we can now start to see that activity is slowing down as a result of strict showing protocols and fewer listings hitting the market. The recreational market understandably will be the most impacted as a result of COVID-19, as many will be evaluating discretionary purchases moving forward. The challenge right…
March Market Spotlight: Huntsville & Lake of Bays
MARCH MARKET DATA : Relevant to the data collected for March 2020, is understanding the market before March 15th and the market after March 15th, when emergency measures were implemented as a result of COVID-19. In both the residential off-water and waterfront markets, the early part of March showed promise with new inventory and strong sales activity. Now with strict protocol in place, the real estate transactions that are taking place are considered more essential than discretionary. The reality is people still need to move, due to circumstances not always in their control, and those are the transactions we are…
February Market Spotlight: Huntsville & Lake of Bays
What are the reports all about! https://youtu.be/ejaPiYTJzJQ WATERFRONT REAL ESTATE SALES ACTIVITY: Compared to February 2019: Decrease of 27% in Ave. Sale $ (see notes) Fewer NEW listings Same number of sales Fewer days on market Decrease increase in list to sale price Minimum: $307,000 (2020) | $499,000 (2019) Median: $395,000 (2020) | $504,456 (2019) Maximum: $482,000 (2020) | $509,911 (2019) Important to note here is the average sale price is exceptionally low as a result of only 2 sales. What you can take from the Monthly Spotlights are a year over year comparison and an understanding of the…
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