A High Demand Market
As realtors we have been getting a lot of questions about the current real estate market. Our answer… ‘It’s been interesting!’ … and by that we mean it’s been interesting in many ways - with adapting to new and ever changing COVID-19 health and safety protocols, but also interesting in how the market quickly changed into a high-demand ‘battleground’ of sorts where buyers are moving quickly, competition is high, sales prices keep going up and things are happening at a fast pace.
We have seen this happening first hand throughout 2020 and now as we are looking into 2021, it does not not look like it will be changing anytime soon.
Muskoka Real Estate in Numbers
Through the RE/MAX Professionals North Brokerage February 2021 Market Report we can see that a Muskoka single family waterfront home sale price averaged $835K in February of last year, but rose over 90% to $1.58M in the month of February this year. Non-waterfront properties saw approximately a 60% increase with an average sale price of $626K.
We pulled a few key statistics that we think clearly demonstrate the current real estate market in numbers.
Number of Sales
Waterfront Up 237.5%
Non-waterfront Up 54.5%
Average Sale Price
Waterfront Up 90.2%
Non-waterfront Up 59.5%
Inventory of Homes
Waterfront Down 68.3%
Non-waterfront Down 58.9%
Average Days on Market
Waterfront Down 33.3%
Non-waterfront Down 55.1%
Our Take…
No, those are not typos… they are real stats and they are astonishing, we know! So after looking at the numbers and seeing what is happening in real estate in your own community you might be thinking,
‘Wow, how can I leverage this?’ or
‘I wonder where I fall in this market?’ If that is the case
let us help you.
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