2024-2-1 Newsletter: Muskoka Home Sales, Real Estate Trends

By Shawn OConnor, AACI, Hon. B. Comm.

Muskoka Market Conditions
 February 24, 2024

WATERFRONT PROPERTY ONLY: The median sale price fluctuated during 2023 and reached a high of $925,000 in May, 2023 and a low of $847,000 in January of 2024. The median price data only included waterfront properties sale prices.

Area included in source data for Muskoka home sales: District of Muskoka, residential 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 denied4

Quick facts
Muskoka Map, Ontario, Canada
Muskoka waterfront sale prices, February 2024
Muskoka, Ontario, Canada - cottage sale prices.
2023 Muskoka cottage sale prices
During 2023 the median cottage sale price declined from its highest in May 2023 to the lowest in January 2024. a difference of 8.43%

Muskoka Home Sales

Muskoka Median Sale Price
Inventory of Homes for Sale
Percent of List Price Received
January 2024
National home sales rose 8.7% month-over-month and 3.7% year-over year, according to the Canadian Real Estate Association (CREA), snapping a six-month streak of declines and marking one of the stronger periods of home sales since last spring and summer. Despite the end-of-year boost in activity, annual home sales came in at 443,511 units in 2023, a decline of 11.1% from the previous year. CREA remains optimistic about the market going forward, forecasting residential sales will increase 10.4% annually to about 490,000 units in 2024.

New Listings increased 46.8 percent for Waterfront homes and 5.5 percent for Non-Waterfront homes. Sales decreased 29.4 percent for Waterfront homes but increased 0.5 percent for Non-Waterfront homes. Inventory increased 59.0 percent for Waterfront homes and 36.9 percent for Non-Waterfront homes.

Median Sales Price decreased 2.8 percent to $874,500 for Waterfront homes and 5.2 percent to $616,000 for Non-Waterfront homes. Days on Market increased 4.1 percent for Waterfront homes and 20.8 percent for Non-Waterfront homes. Months Supply of Inventory increased 66.7 percent for Waterfront homes and 44.8 percent for Non-Waterfront homes.

Although sales were up, new listings continued to decline nationwide, sliding 5.1% month-over-month as of last measure, bringing the national sales-to-new listings ratio up from a balanced 50.5% to 57.8%, according to CREA. Inventory was down from the previous month, for a 3.8 months’ supply heading into January. As the market tightens, national sales prices have mostly held steady, with the Aggregate Composite MLS Home Price Index (HPI) falling 0.8% month-over-month. CREA predicts average home prices will rise 2.3% annually, with Alberta and the East Coast expected to see larger price gains this year.
For more information about the Muskoka home sales contact A1 Accurate Appraisal, 3-200 Manitoba St., Suite 329, Bracebridge, ON, Canada, P1L 2E2

Phone: (705) 641-1789 Email: sh***@a1*****************.com please use the contact form here: https://a1accurateappraisal.com/contact-us-secure-page-shawn-oconnor-aaci/ 

More info here: https://a1accurateappraisal.com/monthly-price-ticker-muskoka-real-estate-market-conditions-waterfront-vs-non-waterfront/


Currency Convertor
Currency convertor - Convert the Muskoka waterfront cottage price to your currency
Bank of Canada Website
Find where interest rates may be heading for Muskoka waterfront cottages
Appraisal Institute of Canada
See if your appraiser is a member of the Appraisal Institute of Canada
Toronto Star
Find articles about Muskoka waterfront cottages.

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