On a year-to-date basis home sales were running 5.5 per cent above 2014 levels on the Muskoka Real Estate Board. In the Magnetawan area the inventory of houses and cottages for sale are low with some listings selling within days of them being listed. Also very interesting is the fact we have seen multiple and competing offers on homes and cottages this spring which is not common in this area.
Waterfront cottage properties are in high demand with sales up 26.7 per cent from a year ago to 109 units in April 2015.
Year-to-date sales of waterfront cottage properties were ahead by 44.8 per cent compared to the first four months of 2014. This was the best start to a year since 2010.
The median price for non-waterfront homes sales was $234,000 in April 2015, up 4.0 per cent from April 2014.
The median price for waterfront cottage sales was $370,000 in April 2015, edging up 1.7 per cent from April 2014.
The total value of all residential non-waterfront sales in April 2015 totalled $36.7 million, an increase of 5.8 per cent on a year-over-year basis. This was the second best April dollar volume on record.
Non-waterfront house sales that were recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 148 units in April 2015 the same as April 2014.
The total value of cottage waterfront real estate sales was $53.5 million, up 35.3 per cent from levels in April 2014. This was the third best April dollar volume on record.
We have noticed that inquiries for cottages in the $300,000 to $500,000 to be very strong this year as well as homes under $200,000. The larger lakes continue to be very popular but there is also a segment looking for just a quiet get away so they look at rivers and smaller lakes.