Houses for Sale in Muskoka, ON

Muskoka Neighbourhoods

The Muskoka neighbourhood includes the towns of Bracebridge, Gravenhurst, and Huntsville, as well as the townships of Georgian Bay, Lake of Bays, and Muskoka Lakes. The city comprises six municipalities and each has its own characteristics.

The small-scale population of Muskoka has the option of limited property types such as apartments, townhouses, condominiums, and cottages. The Muskoka neighbourhoods housing market reports high sales of cottages since it is a tourist destination. The full-time inhabitants prefer apartments and townhouses, while cottages are mostly big on investment returns.

Real Estate MLS Listings and Investment in Muskoka

The current Muskoka real estate MLS listing stats demonstrate an average house price of $767,933 and 21 new listings for October 2022.  According to Muskoka housing market stats, the median time a home stays on the market is 16 days.

In July 2022, the combined dollar value of all non-waterfront sales generated $62,647,737, a 15% decrease from 2021.  The overall dollar value of waterfront sales in July 2022 was $118,766,844, a dramatic 45% decrease from 2021.

The median price for single-family houses was $757,000, an increase of 8.3% year over year, according to the MLS Home Price Index (HPI). In contrast, the Muskoka housing market statistics reflected that there were no sales and only one new condo townhouse listing for July, indicating a sluggish market. The most significant increase was seen in the median apartment price, which rose by 37.3% from 2021 to $405,000 in July.

Market Stats Report of Muskoka

Muskoka real estate market stats for May 2022 reflected 45% more new listings than there were transactions. Thus, approximately 45% of residential properties are currently on the market. That represents a 29% difference when compared to April 2022 at 70%.

Muskoka housing market showcased the ratio for June was at 43%. However, the average sale price had decreased by more than 18% from $781,137 in May to $639,577 in June. When compared to last September 2021, the average price for waterfront properties in the District of Muskoka under $5,000,000 increased by 10.4%.

Residential non-waterfront sales for the first half of 2022 were 737 units, a 23% decline from the same period in 2021. Contrarily, waterfront sales had a sharper decline in 2021, falling by 47.2%, or 533 units sold over the course of those seven months. Thus, the pattern that started earlier this spring and is still present today is that fewer transactions result from a low supply and a decrease in buyer demand. But that does not imply that the cost of real estate in Muskoka has significantly decreased.

As per the Muskoka housing market, the median price for non-waterfront houses reached $603,000 in July 2022, an 11% increase from June 2021. Additionally, the year-to-date median price was $650,000, a significant 15% rise from the first seven months of 2021.

The median price for waterfront properties, which are more frequently used as cottages or secondary homes, was $825,000 in July, a 7.3% decrease from July 2021. The Lakelands Region's median price for a waterfront property in the first seven months of 2022 was $995,000, a rise of 6.9% over the same period in 2021.

Muskoka’s housing market graph shows an imbalance in property prices as the market seems to be more volatile post pandemic. While the amount of competition has dropped, there is still a limited amount of inventory available for those hoping to buy a piece of property in Muskoka. However, the properties available will still be expensive.

Demographic and Population Ratio in Muskoka

The population of Muskoka is 66,674 as per the 2021 Census of Population, which was carried out by Statistics Canada. The Muskoka demographics reflect 47,560 private homes in total, of which only 28,571 are occupied, a change of 10% from the 60,614 inhabitants in 2016.

The table below showcases the population ratio of Muskoka in the following years - 2011, 2016, and 2021.