Real estate in Muskoka is ever changing and this spring is no exception. Many brokers that I’ve talked to think that inventory numbers will continue to be tight, particularly with waterfront listings. Last summer cottage buyers in the $500,000.00 to $ 800,000.00 range found it frustrating at times with decent properties on good hard to find.
Similarly, homes are in tight supply in Huntsville, Bracebridge and Gravenhurst in the $350,000.00 – $450,000.00 range. Houses with acreages are even harder to find and as a result are at a premium.
Waterfront Cottages & Lots
- Total units sold were 209 for the year compared to 194 in 2018
- This represents an increase of 7.7%
- There were only 13 months worth of inventory compared to 56 in 2018.
- The median number of days on market for waterfront properties was 57 in the fourth quarter of 2019, down from 77 days in the fourth quarter of 2018.
- The median sale price for waterfront properties in the Muskoka Lakes area posted a very large increase of 43.6% to $1,400,000 compared to the previous year.
- Total units sold in Lake of Bays including cottages and waterfront lots numbered 89 compared to 119 the year before.
- This represents a drop of 25.2%
- Months of inventory on hand were only 8 at the end of the end of 2019, down from the 21.5 months at the end of the fourth quarter of 2018.
- Time on market had a median of 54.5 days
- The median selling price for waterfront properties in the Lake of Bays area was up 18.4% on a year-over-year basis to $562,500.
Homes in Muskoka
- For 2019 Bracebridge had sales of 416 properties, down from 457.
- Sales dropped 6.1% year over year.
- The median sale price for non-waterfront listings sold in Bracebridge was up 5.9% on a year-over-year basis to $397,000 in the fourth quarter of 2019.
- Home sales in Gravenhurst numbered 167 properties in 2019. This was down 1.2% when compared to the 169 units recorded in 2018.
- The median sale price for houses was up 8.2% on a year-over-year basis to $345,000 in the fourth quarter of 2019.
- House sales in Huntsville numbered 407 properties in 2019. This was up 25.6% when compared to the 324 homes in 2018.
- The median sale price for a home in Huntsville was down only 0.1% on a year-over-year basis to $373,400 in the fourth quarter of 2019.
Generally speaking, the larger the lake the larger the price. Lake Joe, Lake Rosseau and Lake Muskoka tend to have the highest cottage prices in Muskoka followed by Lake of Bays and Skeleton. Mary, Peninsula and Fairy are also very popular at a slightly lower price point.