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 first met Kim O’ Grady in the fall of 2011 when our cottage search first began, she was incredibly patient and knowledgeable throughout our nine month search. She answered our phone calls and emails promptly and provided us with excellent expertise regarding both the Huntsville area and the properties…
“Thank you Kim for helping us with the purchase of our cottage! Your unique combination of warmth and professionalism was very much appreciated. We felt well so well informed and supported at every step of the process! I will recommend Kim to everyone looking to buy a home or cottage!"
Kim was patient, encouraging and knowledgeable throughout our long search for the right cottage in Huntsville. Once we found what we were looking for, she was on the ball during the purchase process, helping negotiate the sharing of the unexpected cost of immediate septic replacement that got flagged during the…
We highly recommend Kim without any reservations! She provided excellent service in search of us looking to buy a house for a rental property. Our experience began with Kim 4 years ago. She sat down with us and talked about the current market in the Muskoka area. Based on our…
When the time came that I was finally okay with selling my home having Kim as the realtor to sell it wasn’t even a question. Kim made the process so easy. Being a brand new Mom at the time and having to work around showings, she knew exactly how much…
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