November Market Spotlight
NOVEMBER 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 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 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.
“My husband and I were looking for some water front property in Muskoka to build our retirement home on. The sales rep that we called couldn’t take us that day, so he passed us over to Kim and told us she was very good and would take care of us.…
“We had our eye on the cottage of our dreams and Kim guided us through the process with ease. She is professional, considerate and her abilities to negotiate and represent our wishes were outstanding. Thank you Kim for a seamless process that put us here on Lake of Bays today.”
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…
“Kim was professional, extremely knowledgeable and extremely helpful in finding us the cottage we had always wanted. We highly recommend her to assist you with any of your real estate needs.”
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…
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