December 2020 Market Spotlight
DECEMBER MARKET SPOTLIGHT
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 Lake of Bays; while the highest recorded sale in South Muskoka was $14,995,000 on Lake Joe.
Increasing average sale prices coincide with fewer days on market (DOM) and higher sale to list price ratios indicating homes/cottages are selling for either very close to asking, for asking or well over in some cases.
The market remains in the favour of Sellers, however, in the same breath, not everything is selling. Despite record demand if a Buyer feels a property is overpriced…it will likely sit.
How long will this last is the question?
Well…projections are the demand will continue and unless we see an increase in supply, prices are not going anywhere, especially with interest rates in some cases below 1.8%.
Any questions about the market specific to your area, please don’t hesitate to reach out.
“We would like to take this opportunity to thank Kim O’Grady for the time she spent assisting and advising us on the properties in the Muskoka’s. Her extensive knowledge was extremely useful and resulted with a purchase in the town of Bracebridge. We would gladly recommend Kim for future referrals.”
“We were looking for a cottage for about a year and switched our focus to the Huntsville and surrounding areas and come across a listing that she had advertised. Upon talking with Kim about the property we knew we had someone we could work with. She was very patient answering…
“Matt and I want to extend our thank you once again. You helped is find a house, and now it is our home. We want to thank you for helping us find a home so we are able to raise our bundle of joy in safely and happily in. “
"Kim is extremely pleasant, personable and professional. She suggested a great strategic plan to sell our home including advertising initiatives and an open house. We had several offers within 12 hours of listing our property, and we were more than happy with the selling price received, which was more than…
“We first met Kim when we went to view a cottage she was listing. She was so warm and kind and extremely knowledgeable about the area, having grown up there, that we decided to ask her to represent us as our agent in our search for the perfect cottage. We…
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