The Muskoka Real Estate market continues to be very strong going into the fall this year with demand for both waterfront and non-waterfront properties excellent. At our office in Magnetawan the larger lakes in the area are still the most popular with Ahmic Lake, Lake Cecebe and Horn Lake being the most requested. In the south of Muskoka, Fairy Lake, Lake Joseph, Lake Vernon and Lake Muskoka as well as Lake of Bays continue to be very sought after.
So far this year non-waterfront properties were selling over 6 % above levels at the same time last year, the best recorded figure for this period since 2003. We found that many of the people looking at purchasing homes were looking for houses within 20 minutes of large enters like Huntsville, Bracebridge and Parry Sound so they were close to work.
Muskoka cottage and waterfront real estate sales were down over 13% from August last year to 206 units however it was well above the five average for the month. If we look year to date, waterfront properties are 13% up from the same period in 2014, marking the best first eight months of any year on record. The median price for waterfront real estate sold was $385,550 in August 2015, up 7.1 per cent from August 2014.
The total value of all cottage and waterfront property sales was $122.1 million, down 8.5 % from the August 2014. Keep in mind however that this was still the second best August on record and only the fifth time that total sales in any month had surpassed $120 million.
Non waterfront sales including homes and vacant land were 192 units in August 2015, up 8.5 per cent from August 2014. This was the best month of August since 2003.The median price for residential non-waterfront property sales was $237,250 in August 2015, up 7.8 per cent from August 2014.
The total value of all non waterfront properties sold including home sales in August 2015 was $49 million, up 14.1 % from August 2014. This was the best August on record.
The total value of waterfront sales was $122.1 million, down 8.5 per cent from the record August last year. However, this was still the second best August on record and only the fifth time in history that volumes in any month had surpassed $120 million.
Going into the fall selling season we see continued strength for both cottage real estate and large acreages including farms with many out of country buyers making enquiries. The other strong demographic looking to purchase is the retired or semi retired folks looking for a recreational property they can use and eventually retire to and live in the Muskoka area year round.