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.
A well informed professional who is so accommodating and works tirelessly, we highly recommend Kim to anyone who is looking to find a home in the Muskoka area. She is a genuine and honest person who consistently watches the market and matches properties tailored specifically for your needs and wants. She…
We wanted to take a moment to recognize Kim O'Grady for her skill, affability and sensitivity to our needs in two recent real estate transactions in #Muskoka. First, in helping us find a new home that reflects our needs and personalities, and then in the negotiation and sale of Carrie's…
“From our first meeting with Kim, we felt the true spirit of what life in Muskoka should be, warm, friendly and sincere. Not once did we ever question that she did not have our very best interests as the focus of her intentions. Her honesty coupled with her experience was…
“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…
We would definitely recommend Kim to anyone who is looking for a realtor. She is the best. Had a wonderful experience with her when we purchased our house in 2017. Kim is a consummate professional.
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December 2020 Market Spotlight
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