Muskoka Real Estate Sets Records
Muskoka real estate is red hot this summer with sales records being broken in many areas including Bracebridge, Gravenhurst and Huntsville.
Muskoka Cottage Sales Up
Cottages were very much in demand through the first part of the year with sales up over 30% year-over-year to cottages & waterfront properties in May 2016. Waterways such as Fairy Lake, Lake Rosseau, Ahmic Lake, Peninsula Lake and Lake Muskoka were very much sought after with the total number of hits on our website more then doubled over the same time period last year. If you look from a year-to-date basis non-waterfront sales were ahead by 24.4 % for the first five months of 2015.
On a year-to-date basis cottage sales were up over 36 % from the first five months of 2015.
In Magnetawan we have seen a remarkable increase in demand for property in the $500,000 to $1,000,000 range with supply not keeping up with demand. Well priced real estate listings are selling very fast and we have had multiple offer situations several times which is uncommon for the area.
The median price for non-waterfront homes and lots was a record $256,750 in May 2016, up 7% from May 2015.
The median price for waterfront cottage sales was $421,000 in May 2016, a decline of 3% from May 2015.
The value of all homes sold throughout the region was $70.4 million, up over 32% from May 2015. This was another all-time record and marked the first time total dollar value had ever surpassed $70 million.
The value of waterfront cottages and vacant lakefront was over $161 million, up over 27% from May of last year. This was also an all-time record and was the first time the value of waterfront real estate listings sold was over $150 million.