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Muskoka Real Estate - Summer 2015

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Blog by John & Bonnie Fincham, Brokers | August 6th, 2015

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The Muskoka Real Estate Market was very strong in the month of June with homes, cottages and vacant waterfront all selling well. Demand for the larger lakes like Lake Joseph, Fairy Lake, Lake Vernon and Lake Muskoka as well as Skeleton and Ahmic Lake were all excellent.

Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 262 units in June 2015, up 37.9 per cent from June 2014. This was the best June on record, and highest level for any month in more than a decade.

Looking at a year-to-date basis non-waterfront property sales were running 16.3 per cent above levels in 2014. This was the best showings for the first half of any year since 2003.

Sales of waterfront properties, meanwhile, rose 19.1 per cent from a year ago to 212 units in June 2015. This was an all time high for the month of June in the Muskoka Region. Waterfront cottages sold has only been over the 200 units in a single month a handful of time in history.

Year-to-date sales of waterfront cottage real estate were an incredible 20.9 per cent ahead of the first half of 2014, marking the best first half since 2002.

The median price for non-waterfront property sales was also a record $242,500 in June 2015, up 6.9 per cent from last year.

The more volatile median price for waterfront cottage sales was $370,000 in June 2015, down 11.8 per cent from June 2014.

The dollar value of all residential non-waterfront sales in June 2015 was $69.4 million, up 51.5 per cent from June 2014. This was again an all-time high and marked the first time residential non-waterfront dollar volumes had ever surpassed $60 million.

The total value of waterfront sales of cottages and vacant waterfront lots was $115.4 million, falling 9.2 per cent from the record June last year. This was still only the second June on record to go over $100 million mark.

Information gleaned from Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®.