With 2013 behind us it’s time to review the 2013 Real Estate market in Muskoka and Parry Sound. The spring real estate season started slow in many areas of cottage country but as the summer progressed things picked up. We found Residential Real Estate in our area tended to be somewhat soft with more home listings than people looking to purchase making it what I would consider a moderate Buyer’s market. Quality waterfront properties priced at fair market value were in strong demand so the Cottage market was quite balanced. Many people searching for Cottage real estate were looking for a property they would eventually retire to so we found that year round road access and slope to the waterfront was more important than ever. Vacant waterfront lots had decent demand but inquiries for vacant building lots not on water were minimal at our office. Larger tracts of land for hunting continued to be quite strong with limited inventory.
The Parry Sound Real Estate Market
According to the Parry Sound Real Estate Board total sales were essentially flat over 2012 with a modest 2% increase but the total dollar value of those sales was down 6% with a total of 563 listings sold. The total number of active listings on the Parry Sound MLS for 2014 was basically the same as 2013 at 563 and 537 as of January 3, 2014. With many of this areas great lakes being within two hours of Toronto, the Parry Sound Cottage market has a widespread appeal for folks looking to spend time at their cottage and not on the roads every weekend. This, combined with reasonable property tax rates, the completed four lane highway and generally slower pace of living then areas farther south all contribute to the reasons people purchase waterfront here with an eye to the future. One noteable change at the end of the year was the amount of inventory on hand which was 26.1 months, up substantially from 2013.
The Muskoka Real Estate Market
Real Estate in Muskoka followed a similar pattern in many respects to Parry Sound with total sales on the MLS system being 3455 in 2013 versus 3442 in 2012. This includes all areas including Almaguin, Huntsville, Bracebridge, Gravenhurst, Lake of Bays, Muskoka Lakes, Haliburton and Orillia. The total number of Listings processed was 9628 this year and 9685 last year. Cottage activity was down 1.6% from 2012 to 1568 recreational properties sold. Home sales were up 4.1% to 2440 units, the highest number since 2004 according to Muskoka Real Estate Board. The median price for a cottage was $345,000 in December, up 5%. The total value of all cottage sales on the MLS was $13.8 million, down 30% from last year.
The Almaguin Real Estate Market including Magnetawan
A total of 417 properties were sold on the Muskoka MLS system in Almaguin in 2013 including Homes, Cottages, Vacant Land, Condos and Commercial Real Estate, down from 452 last year. Cottage sales totalled 95, down from 113 in 2012 for a decrease of about 16%. The Magnetawan area had great year with 43 properties were sold, up from 33 last year for an increase of about 30%. A total of 26 waterfront cottages were sold in Magnetawan on all lakes including Ahmic, Cecebe, Horn, Neighick, Whalley and Poverty Bay.
We also have the Muskoka 2013 Real Estate Statistics available for your information.
By John FinchamGoogle Google