The District of Muskoka, also known as Muskoka, is a regional municipality in central Ontario, Canada. From Georgian Bay in the west to the southernmost point of Lake Couchiching, and to the eastern edge of Algonquin Provincial Park, Muskoka stretches 6,475 km2 across the entire region. The city is two hours' drive from Toronto and boasts over 1,600 lakes. The towns of Bracebridge, Gravenhurst, and Huntsville, along with Georgian Bay, Lake of Bays, and Muskoka Lakes townships, come under the Muskoka region.
Muskoka's housing market features a combination of villages and towns, farming settlements, and lakefront vacation hotels and resorts close to golf courses, country clubs, and marinas. The majority of the property types found in Muskoka are apartments, condominiums, townhouses, and cottages. There are 47,560 private homes in total, of which only 28,571 are occupied, with the availability of a range of residential Properties for sale in Muskoka.
Market Trends for Sale in Muskoka
All through the pandemic, Muskoka's housing costs have risen, and a recent survey claims that more individuals are turning seasonal residences into year-round dwellings, pushing prices higher. According to reports, the percentage of inhabitants in Muskoka has increased dramatically, with the majority of buyers hailing from the Golden Horseshoe area and the Greater Toronto Area.
Prior to the pandemic, an entry-level home in Muskoka would have cost around $400,000. However, Muskoka’s housing market trends reflect listings which are uncommon because the same property would not sell for less than $700,000 in today's market.
According to projections, the average cost of a house in Muskoka has increased by 13% in 2022 to an average of $737,890. However, in touristic regions like Muskoka, nearly 84% of Ontario real estate agents report a severe lack of available properties. In contrast, 87% of agents stated that they sold at least 75% of the houses with asking prices higher than the actual sales price. This imbalance completely depends on the property type and neighbourhood.
Muskoka's housing market trend reflected the market’s tremendous two-year run. However, this led to low sales and decreased buyer competition.
In July 2022, the Lakelands region of Ontario saw 92 residential non-waterfront sales transactions registered through the MLS System, a remarkable 30.3% decline from the same month in 2021. These figures were reported and studied by the Canadian Real Estate Association (CREA). Comparatively, sales of waterfront property reached 107 units in July 2022, a bigger decline of 36.3% than in 2021.
The following table showcase the occupancy value for different property types in Muskoka -
| Property Type |
Occupied Value |
| Single Attached |
23,560 |
| More than 5 storey Apartment Building |
280 |
| Less than 5 storey Apartment Building |
2,390 |
| Semi-Detached |
420 |
| Row House |
830 |
| Duplex |
665 |
| Other Attached |
185 |
| Moveable |
255 |
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.
| Muskoka Demographics |
| Year |
2021 |
2016 |
2011 |
| Population |
66,674 |
60,599 |
58,047 |
| Land Area |
3,839.47 km2 |
3,940.48 km2 |
3,937.76 km2 |
| Population Density |
17.4/km2 |
15.4/km2 |
14.7/km2 |
| Median Age |
52.8 (Male - 52, Female - 54) |
51.3 (Male - 50.4, Female - 52.1) |
48.0 (Male - 46.9, Female - 49.0) |
| Total Private Dwellings Occupied |
28,575 |
46,207 |
44,619 |
Real Estate Brokerage Trend in Muskoka (Data)
In terms of revenue, the real estate sales and brokerage market in Canada will be worth $21.1 billion in 2022. In Canada, the Real Estate Sales and Brokerage sector's market size grew more quickly than the country's entire Real Estate and Rental and Leasing sector.
Population expansion increases housing demand, which raises house prices and related brokerage and industry commissions. Population expansion consequently typically results in increased industrial income and profit. In 2022, the population of Canada is anticipated to increase, providing a possible opportunity for the sector.
Top Localities with Price Trends for Sale in Muskoka
In September 2022, the average price of a property sold in the Muskoka housing market dropped to $630,000. However, in 2022, this price has increased by 31.2% annually and by 37.8% monthly to $868,000. The top localities of Muskoka, including Bracebridge, Gravenhurst, Lake of Bays, Muskoka Lakes, Huntsville, and Georgian Bay had an overall growth in property sale prices.
| Year - 2022 |
Housing Price |
Annual Average Change |
Monthly Change |
| September 2022 |
$630,000 |
-22.3% |
-71.1% |
| October 2022 |
$868,000 |
+31.2% |
+37.8% |
Top Municipalities - Housing Market Stats Reports
Muskoka comprises six municipalities, and the local governments work together to offer the best services to the residents and tourists. As per the Muskoka housing market stats report, it should be recognized that in some of the municipalities, there were fewer waterfront properties reported sold. This led to an exaggeration in some categories, such as the average sale price in the Lake of Bays market's consistency with sales volume from the previous year. However, the market in Muskoka is trending in a positive direction overall, according to June data.
However, in October 2022, the average housing price increased by 31.2% with an average sale price of $868,000 which is still less compared to the last year 2021, especially for municipalities such ad Lake of Bays.
|
For June 2022
|
|
Municipalities
|
Sales
|
Inventory
|
Price
|
Sales to List
|
| Bracebridge |
-43.80% |
2. 8 months |
$1,323,889 |
99.40% |
| Gravenhurst |
-36.40% |
5.1 months |
$1,281,000 |
100.30% |
| Huntsville |
-73.70% |
11.4 months |
$959,000 |
97.50% |
| Lake of Bays |
-58% |
11.2 months |
$3,095,000 |
92.60% |
...
Frequently Asked Questions (FAQs)
How many homes for sale are available in Muskoka?
There are 231 residential and commercial properties available for sale in Muskoka.
How many residential properties are available in Muskoka?
Muskoka features 47,560 private homes in total, of which only 28,571 are occupied.
What is the median home price in Muskoka?
In Muskoka, the current median sale price of a property is $720,000, which increased 13.4% from June.
What is the average price of the Condo Property in Muskoka?
The average price of a condo property in Muskoka is $647,000. This includes condo apartments and condo townhouses.
Can Foreigners/expats buy property in Muskoka?
Canada does not have any law or reform that restricts foreigners or non-residents from buying property in any province of Canada.
Which property is best to buy in Muskoka?
Muskoka saw high demand for apartments with an increased median price of $405,000. However, cottages are a great investment in Muskoka and offer exceptional returns.
Are detached or semi-detached properties for Sale available in Muskoka?
Yes, there are detached and semi-detached properties available for sale in Muskoka.
What are the amenities I get on buying Muskoka Property?
The properties in Muskoka offer a range of amenities such as gyms, bike storage, rooftop decks, gardens, swimming pools, security systems, and games rooms, among others.
What is the minimum and maximum property price range in Muskoka?
The minimum and maximum property prices in Muskoka range between $35,000 to $15,620,000. The price range depends on the property type as well.
