Inventory for all recreational property types in Muskoka has increased in 2019, resulting in more balanced market conditions, according to the RE/MAX 2019 Recreational Property Report. While inventory is up, median prices are down for waterfront properties (-18%) and water access properties (-7%). Median prices sit at $1,175,000 and $404,000, respectively. In comparison, non-waterfront properties saw an increase of 28 per cent as a result of low supply, as well as the shifting preferences. Non-waterfront properties are prices at $376,000.
Muskoka market conditions:
- Waterfront properties down 18% year over year
- Non-waterfront properties up 28% year over year
- Balanced market conditions, due to higher inventory
Muskoka at a glance:
Muskoka is considered to be Canada’s oldest and best-known cottage country region, and continues to be popular with vacationers who enjoy water sports, high-end dining, or just sitting on the dock and soaking up the sun. A two-hour drive north of Toronto, Muskoka extends from Georgian Bay in the west, to Lake Couchiching in the south, to Algonquin Park in the east. The most populous area is the Muskoka Lakes Township, where Lake Muskoka, Lake Rosseau and Lake Joseph are located. Cottages on these lakes tend to be upper-end properties, and the closer a property is to Port Carling, known as the hub of the Muskoka Lakes, the more expensive it will likely be.