The 2020 Muskoka Real Estate market was, what I termed the “Covid Boil” - a fast moving, high priced, sellers’ market. The last month of the year proved on par with this trend. Waterfront property MLS (Multiple Listing Service – open/public market) sales numbered 67 units in Muskoka, soaring 44.9% above data from the same month in 2019. While most sales occur from spring, when the ice is out, and carry on through fall, they reached a level December has not seen in five years.
Muskoka Waterfront Sales High in 2020
With the increase of waterfront sales by almost 45% from 2019, the total number of recorded MLS sales was up to 2,381. This 2020 figure surpasses the previously set 2015 record by a staggering 225 sales.
The MLS Home Price Index — which tracks price trends far more accurately than is possible using average or median price measures — indicates the average price for waterfront property sales was up considerably by 51.1% year-over-year.
Muskoka Cottage Sale Prices Continued to Increase
Muskoka waterfront total dollar values also hit a new record for the December 2020. The total dollar value of sales more than doubled 2019’s total, hitting $75.4 million which is up a jaw-dropping 146.8%.
Demand has been up while supply has been down contributing not only to the up-drive in price but also to the number of days properties are on the market.
2020 has been a record setting year for Muskoka region and other cottage country areas including non-waterfront residential properties outside of the GTA. While I strongly recommend buyers of recreational waterfront property wait until the ice is out, I am happy to discuss the Muskoka real estate market, selling and/or buying a cottage.
If you are considering selling and taking advantage of this continuing trend in the market please see “Selling Your Cottage” on my website. This page contains great tips and outlines what I have to offer including insight on the market, best time of year to list and make any recommendations to expedite the successful sale of your property to your advantage.
If you are looking to make your summer plans and buy a Muskoka cottage on any of the Big 3 or perimeter lakes, my “Buying a Cottage Property” page has great tips and outlines the exceptional services I provide my buyers. Once we prioritize your wants and needs, I can provide you with insight on properties of interest that you won’t find in the listing details.
*Data and graphs provided by the MLS System for the Lakelands region which encompasses Muskoka Lakes and surrounding area.
For 2020 non-waterfront residential sales in Muskoka please see the article in torontostoreys.com.
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