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May 2021 | Muskoka Market Insight

  • May 2021 | Muskoka Market Insight
  • May 2021 | Muskoka Market Insight
  • May 2021 | Muskoka Market Insight
  • May 2021 | Muskoka Market Insight
  • May 2021 | Muskoka Market Insight

May 2021 | Muskoka Market Insight 

Another month of solid Real Estate trading in Muskoka & beyond, below are some highlights: 

-We are operating on 2 Months of inventory total & 1 month inventory for detached residential in all of Muskoka & Parry Sound, still very much a seller’s market. 

-Y/Y average sale prices have decreased in comparison to March, one of the hottest months on record. 

-Average Days on Market are starting to rise consistently in all categories compared to the months in Q1

-Nationally, only ¼ of canadian markets are in a balanced territory, The rest are well above the norm.

-Off Water properties in Muskoka Lakes, Bracebridge and Gravenhurst saw the largest average sale price increase as well as the highest number of new listings in May. 

What to expect: 

June is a big month for Real Estate! New stress test measures were introduced on June 1st in hopes of “slowing the market”. However, in a recreational marketplace such as Muskoka, where the majority of property sales are investment/secondary properties, I don’t see these measures making a massive impact on this market, but time will tell. 

As far as historical data goes, June typically sees the highest number of new listings, we are expecting a similar but maybe less dramatic wave of new listings this month as properties are accessible, cleaned up and the weather forecast looks perfect for cottage showings.

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