September 2024 – Muskoka Market Snapshot

Muskoka Market Review What Buyers and Sellers Need to Know

As we move into autumn, the Muskoka real estate market has shown some promising trends, particularly in both the waterfront and non-waterfront sectors. Whether you’re looking to buy or sell, understanding the latest statistics and what they mean for your next step is crucial. Here’s a breakdown of the market and some insights tailored specifically for you.

Non-Waterfront Sales: Steady Growth but Still Below Long-Term Averages

In September 2024, the Lakelands region recorded 398 non-waterfront sales—a significant 11.8% increase compared to last year. However, it’s worth noting that this still falls below the five-year and ten-year averages by 20.4% and 23.1%, respectively.

For sellers, this indicates a growing interest and buyer activity, but it’s still not quite at the levels we typically see for this time of year. Prices remain steady, with the median price of non-waterfront residential properties seeing a modest 3% increase year-over-year. This is an encouraging sign if you’re planning to list your property this autumn or winter. Buyers are out there, and with proper pricing and presentation, you can position your home competitively to take advantage of this increasing demand.

For Buyers: If you’re a buyer, this market could offer some opportunities. Interest rates may still be holding many buyers back, but as they continue to gradually decline, competition is likely to increase in the coming months. Locking in a deal before spring, when activity traditionally picks up, might work to your advantage.

Waterfront Sales: A Strong Performance Despite Historical Lows

Waterfront properties experienced a boost compared to the same month last year. However, like non-waterfront sales, these figures are below the historical averages compared to the five-year average. While the number of transactions is down compared to long-term trends, the total dollar value of waterfront sales saw a substantial jump.

For Sellers: For those looking to sell their waterfront home, these numbers show there’s still strong demand. Although we’re not seeing a rush of activity, the higher total dollar values demonstrate that well-positioned properties are commanding solid prices. Presentation will be key, as discerning buyers are still looking for the perfect waterfront retreat.

For Buyers: If you’re looking to buy a waterfront property, prices have softened slightly compared to last year, which may give you some leverage in negotiations. However, don’t wait too long—Muskoka’s waterfront remains highly desirable, and next spring could see competition heat up again. The slight price declines mean you might secure a gem at a more attractive price than in recent years.

A Look at the Price Trends: Modest Declines but Stable Prospects

Sellers: It’s important to price competitively. While prices are only down slightly, buyers may still be hesitant. Setting a realistic price, alongside quality marketing, will help attract attention.

Buyers: Prices are holding fairly steady despite the slight year-over-year declines. This stability offers reassurance that the market isn’t expected to see dramatic shifts. If you find the right property at the right price, now could be the time to make your move.

What to Expect Moving Forward

As we head into the cooler months, don’t expect a huge uptick in activity, but the market is showing signs of resilience. The increase in sales and dollar values in September, particularly in the waterfront sector, offers hope for a more active market come spring 2025. With interest rates potentially easing, demand could ramp up, making it a great time to prepare for the future.

Following are tables outlining waterfront market activity for September 2024 for  Muskoka Lakes, Bracebridge,

Whether you’re thinking of buying or selling, now is the time to seek expert advice. As a specialist in the Muskoka and Lake of Bays area, I’m here to help you navigate the market and make the most informed decisions. Whether you’re selling your waterfront retreat or seeking a quiet non-waterfront home, feel free to reach out for tailored guidance that fits your needs. Let’s move forward together.