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Muskoka Parry Sound Cottage Sales Hit Record Levels in 2014

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Blog by John & Bonnie Fincham, Brokers | January 9th, 2015

The Muskoka Real Estate Board released it's 2014 market report and things are looking very strong for both Cottage and Non Waterfront Real Estate in the Muskoka Region.

 Sales numbers for non waterfront properties recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® were 79 units in December 2014. This was a lower by 3.7 per cent from December 2013. It was the third best month of December on record.

2014 Muskoka Cottage and Waterfront Property Sales Up Sharply

There was a slow start to the 2014 Real estate season mainly due to the weather which was less than cooperative. As the summer progressed however things turned around quickly and continued strong throughout the year. In the Magnetawan region there were quite a few buyers that had looked the summer before and decided that now was the time to buy there cottage.

Waterfront properties, including cottages and vacant waterfront were up 24.1 per cent from December 2013 to 36 properties in December 2014. This marked the best December for cottage real estate since 2009 and the second best ever for the Muskoka Region.

On a yearly basis home sales including vacant non waterfront sales were 1,783 properties in 2014, an increase of 13.1 per cent from 2013. As well as being a new record, yearly home and non-waterfront property sales had previously had not been over the 1,600.

1,379 cottages and waterfront properties were sold in 2014, up 15 per cent over 2013. This is also an all-time record for the Muskoka Real Estate Market.

The median price for homes and non-waterfront property sales was $228,000 in December 2014, up 7.8 per cent from December 2013.

The median price for waterfront sales was $477,000 in December 2014, up 28.9 per cent from December 2013 but to keep things in context, there are fewer winter sales so those numbers should be taken with a grain of salt.

2014 Muskoka Home Sales Strong

The total value of all residential non-waterfront sales in December 2014 totalled $18.8 million, edging down just 0.8 per cent on a year-over-year basis.

The total value of waterfront sales was $22.5 million, yet another record. The larger lakes in south Muskoka like Lake Joeseph, Lake Vernon and Lake of Bays sold well and Ahmic Lake, Lake Cecebe, Horn Lake and Neighick Lake to the north were particularly sought after again this year. Georgian Bay water levels came back which helped both cottage and home sales on the big water.

Magnetawan Cottage Sales Very Strong

Cottage and home sales were very strong throughout 2014 with excellent demand in all prices ranges. Vacant waterfront continues to move well and the trend away from seasonal properties and towards year round cottages is apparent. With more and more people looking to retire in the Muskoka and Parry Sound area year round access is becoming a priority. Home sales were steady and there was a good supply which lead to a balanced market for residential properties. Google

By John Fincham