Thank you for taking the time to learn more about the real estate market in Muskoka and area. It’s my job to provide you with the right information for you to make an informed decision. The following charts will give you a quick look into the 2011 Muskoka Real Estate Market but don't hesitate to contact me if you would like more details, or click here to try the new Interactive Graphing feature. Clicking on the images will increase the size for clarity.
Below you will see that the real estate volume has increased 5.4% over the previous year. Mostly attributed to waterfront sales which is broken away in the chart beside.
Waterfront properties are more volatile due to being discretionary purchases, not a necessary purchase as with residential homes. Residential pricing volumes this year have increased after three years of declining volume, but let's look at how the unit sales and average pricing compare with charts further down. The two charts below include all property types; single family, cottage, vacant lots and condominium for Muskoka and Almaguin Highlands.
Next chart shows the Unit Sales and Average Sale Price for the "Big Lakes" in the area. Unit sales for Lake Muskoka have risen over 27% due do lowest average prices on this lake since 2005.
The residential market unit sales for all three larger towns in the area remain relatively flat. While the average price for a Bracebridge and Gravenhurst home has slightly increased, Huntsville's price has decreased by 2%. In 2008 we see that Bracebridge and Gravenhurst residential market go through a correction of approximately -5.5%, where Huntsville didn't. Huntsville now with the largest increase in unit sale as a result of lower pricing for 2011. The average price for a home in any of these towns can be squewed by a few higher end home sales. I'm working on a formula to be able to capture the Median price which I think will give a truer representation of where the home prices are headed.
Is it a buyer's, seller's or a balanced market? The chart below shows the Solds to New Listing ratios for the varies districts for both waterfront and non-waterfront properties. A ratio between 35% - 55% demonstrates a balanced market. Lower than 35% would be a buyer's market where there are many more properties listed than there's demand for. Some of the areas are still showing signs of a buyer's market for waterfront properties but for the residential market it appears that for 2011 it was balanced. Interesting to note that in most areas over half the homes listed do not sell. Therefore pricing your property correctly is critical.
I'm often asked when is the best time to list my property. Below shows the Unit Sales for each month of the year. I've also incorporated the previous year for comparison. After looking at the chart below, the earliest time to list would be some time in March, but if you have a cottage property you may need to wait till May or even June to ensure that potential buyers can gain access to the property. Cottage buyers would like to be able to use the cottage in the year purchased so don't wait too long to list.
If you would like more detailed statistics for specific lakes, regions, condominiums, etc don't hesitate to call my cell 705-788-4770 or send an email to email@example.com.