real estate trends

Annual 2020 Market Spotlight

ANNUAL 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.    WATERFRONT HUNTSVILLE/LAKE OF BAYS The Huntsville/Lake of Bays waterfront market experienced a significant increase in average sale price with a 21% increase compared to 2019 where average sale price was 10% higher than in 2018.  It was no doubt the demand for recreational property as due to the pandemic, creating a frenzy in the cottage market. We experienced cottages that were on the market the previous year, sell in multiple offer…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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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January Market Spotlight: Huntsville & Lake of Bays

What are the reports all about! https://youtu.be/ejaPiYTJzJQ   WATERFRONT REAL ESTATE SALES ACTIVITY:   Compared to January 2019: Decrease of 4% in Ave. Sale $ Fewer NEW listings Fewer sales Fewer days on market 2% increase in list to sale price Minimum: $471,000 (2020)  | $169,999 (2019) Median: $585,000 (2020) |  $666,500  (2019) Maximum: $899,900* (2020)  | $2,950,000** (2019) *Max sale for 2020: $899,900 on Rebecca Lake sold for full list after 12 days on market ** Max sale for 2020: $2,950,000 on Peninsula Lake sold for 99% of list price   RESIDENTIAL REAL ESTATE SALES ACTIVITY OFF-WATER: Compared to January…

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