Muskoka Market Conditions February 2023
Muskoka Market Conditions: The median residential sale price in the District of Muskoka decreased by approximately 3.70% during the 12 months previous to February 2023 compared to the 12 months previous to February 2022. Sales of vacant land and/or commercial property were not included in the data source.
Area included in source data: District of Muskoka, residential waterfront and residential non-waterfront improved sales only. (Source: Lakelands Association of Realtors MLS data)
Disclaimer: The above data was provided for personal use only and was obtained from sources considered reliable and was not verified. It is up to the reader of this information is to determine the suitability and use of the information. Any and all liability to the reader is expressly denied.
The median sale price for waterfront and non-waterfront property has recently been increasing and was $650,000 at Feb. 1, 2023.
HOUSING SUPPLY OVERVIEW
Housing starts activity in Canada fell 0.2% from the previous month, with the – 20.0% + 8.5% standalone monthly SAAR of total housing starts for Canada at 264,159 units as of last measure, according to the Canada Mortgage and Housing Corporation (CHMC).
Housing starts remain elevated by historical measures thanks to a boom in new construction activity the past two years, with nearly 10 homes for every 1,000 people currently under construction, per recent data from BMO Capital Markets. For the 12- month period spanning January 2022 through December 2022, Sales in the Lakelands area were down 37.5 percent overall. The price range with the smallest decline in sales was the $3,000,000 and Above range, where they decreased 20.0 percent.
The overall Median Sales Price was up 8.0 percent to $745,000. The property type with the largest price gain was the Condo segment, where prices increased 11.8 percent to $615,000. The price range that tended to sell the quickest was the $800,000 to $999,999 range at 21 days; the price range that tended to sell the slowest was the $199,000 and below range at 72 days.
For more information about the Muskoka market contact A1 Accurate Appraisal, 3-200 Manitoba St., Suite 329, Bracebridge, ON, Canada, P1L 2E2
Phone: (705) 641-1789 Email: